International molybdenum price is lack of upward momentum.Late night international moly oxide assessment is at $(-0.1)11.3-11.5/lb, equivalent to 1843-1876 yuan/t on import; European ferromoly assessement range widened to $(-0.1)28-28.3/kg, equivalent to 10,7100-10,8300 yuan/t on export. Molybdenum market in China weakly remains stable driven by the support from large-scaled mines.

　　The overview of molybdenum market in China recently

　　Molybdenum concentrate assessment range is between 1570-1680 yuan/t according to diffierent grades,with deals mainly concluded with the range of mainstream offer.Buyers pay cautious on purchasing high-grade concentrate,but conclusions are weak.Molybdenum concentrate with low grade and attracting price is more popular in the market.

　　Large-scaled ferromoly producers offer at 10,8000-11,2000 yuan/t with its mianstream assessment remains stable.Recently, the tendering price from steel mills is mainly between 10,7000-10,9000 yuan/t.Conclusions in bulk market are mainly booked at a low level,and the waiting sentiment is strong.

　　Demands for moly chemicals have seen a weakness.Orders from companies are less, and the market is under a certain pressure.In recent days,the mainstream assessment of first-class ammonium molybdate has reached 10,8000-11,0000 yuan/t.There are not much active orders in the market.According to comelan,deals have been booked mainly at 10,8000-10,9000 yuan/t.

　　At present,the mainstream offer of first-class ammonium molybdate remains at 22,5000-23,000 yuan/t and conclusions are relatively weak.Most of producers said that orders are less and the market is under pressures,which sparked them to concern about changes on demand side.Otherwise,producers also need to be cautious and purchase materials as required.

　　molybdenum market analysis

　　The pattern“large in the middle and tight on two sides”is a real reflection on the current ferromoly market.“Large in the middle”means high production ability,large market share,huge demand and great pressure.“Tight on two sides”include two diffierent aspect.On one hand,large-scaled mines keep assessment stable and the supply for moly concentrate is tight.On the other hand,the demand for ferromoly by the main customer of ferromoly producers grows faster than ferromoly production,which caused its marketing channel tight and its market power weak.

　　According to comelan imcomplete statistics,the industrial chain of ferromoly accounts for 80% of moly concentrate consumption in China.“The pattern of large in the middle and tight on two sides”makes ferromoly market fall into a dilemma of cost overhang,which leads to a weak market sentiment.The whole market is stuck in a stalemate and consolidation.

　　In conclusion,downstream and upstream companies hold diffierent opinions,and can not reach a consensus.Molybdenum markets remain stable with consolidation continues.