Yesterday the international molybdenum oxide assessment range narrowed to $10.9-11/lb, equivelent to RMB 1861-1879 yuan/mtu on import basis. While the European ferromoly assessment rose to $27.2-27.4/kg, equivelent to RMB 10,9000-10,9800 yuan/mt.

　　Early in this week the molybdenum market maintained stable. The market mentality was healthy though molybdenum concentrate spots were less. As typical steel mills started to purchase ferromoly producers were increasingly willing to rise their quotations. Otherwise moly chemicals and deep-processing producers still remained their assessment stable.

　　1, It is hard to purchase ferromoly at low prices.

　　Most of molybdenum concentrate producers possessed less inventories, leading to less circulated spot goods in the market and firm molybdenum concentrate assessmnet. Buyers still took cautious about buying moly concentrate bulks due to less new orders from downstream companies. Recently long-term contracts remained normal with steady prices, but less bulk cargoes had been concluded. Therefore many participants focusing on the assessmnet and delivery from large mining comopanies.

　　2, Tenders from large steel mills promoted the molybdenum market to develop steadily and healthily.

　　Yesterday a large-scaled steel mill in Shanxi province opened to purchase 520 tons ferromoly at acceptance 10,7000 yuan/mt ( total amount was about 800 tons), as we learnt. The bidding price of ferromoly by mainstream steelmakers had rised about 1000-2000 yuan/mt.

　　At present mainstream ferromoly companies maintained their quotation at 10,7000-10,9000 yuan/mt. However as it was hard to purchase materials companies were firmly reluctant to sell at low prices, some of which had rised their assessment up to acceptance 11,0000 yuan/mt.

　　In conclusions, the molybdenum market maintained stable currently under the support of raw materials. The bidding price of ferromoly by large mills had seen a stable and positive trend, as well as the market mentality was relatively optimistic. Otherwise downstream producers slowed down to purchase materials. Overall the molybdenum market maintained stable in spite of divergences.