As supply of moly materials was relatively tight in China, both the moly concentrate and oxide powder prices moved higher triggered by active trade buying from downstream companies. Besides ferromoly producers continued to lift its quotations. The moly chemicals and deep-processing market had been improved gradually.

　　The international molybdenum market also performed good with main products prices rising continuously. Yesterday the international molybdenum oxide price rose to $11.1-11.3/lb, equivelent to RNB 1903-1937 yuan/mtu on import basis. While the European ferromoly assessment unchanged at $27.3-27.5/lb, equivelent to RMB 10,98000-11,6000 on export basis.

　　1, Latest conclusions of molybdenum concentrate

　　Today the moly concentrate assessmnet has seen an increase. 35-40%, 40-45%, 45-50% and 50-55% concentrate prices rise to 1560-1570 yuan/mtu, 1570-1580 yuan/mtu, 1580-1590 yuan/mtu and 1590-1620 yuan/mtu respectively. Above 55% grade concentrate assessment also increases to 1620-1640 yuan/mtu.

　　Yesterday about 2000 tons 50-55% moly concentrate sales were reported to be concluded at prices ranging from 1590-1620 yuan/mtu in Hei Longjiang province (lower grade paid in cash and higher grade paide in acceptance). We also learnt that this mining company planned to get overhaul as the sales aimed to presell some of its productions in August. Overall the market sentiment was good, but the spot market was relatively tight. 35-40% moly concentrate was avaliable at cash 1570 yuan/mtu in Henan province. Therefore it was hard to make purchase at low prices.

　　2, Downstream products follow up steadily under the support of materials.

　　According to our statistics, as of yesterday mainstream steel mills in China had purchased about 3500 tons ferromoly. The price announced continued to improve recently, up 1000-2000 yuan/mt compared with previous days. At present ferromoly producers kept adjusting its assessment, some of which even rose to cash 10,9000-11,0000 yuan/mt or acceptance 11,2000 yuan/mt.

　　After the increase in moly concentrate prices, the moly chemicals companies started to maintain its quotation firm, but some still stopped offering. Though the market sentiment showed improvements, many participants still took cautious. In addition the moly products market had stopped loosening affected by such situation, and its sentiment slightly rallyed

　　In conclusions, the molybdenum concentrate prices increased rapidly stimulated by tight supply and active buying from downstream producers. Under the support of the material market, the moly market showed positive with main products prices moving higher.