Recently the molybdenum market both in and outside China continued to ascend with its price rising, indicating a quick change in the market.

　　Yesterday the international molybdenum oxide assessment rose to $11.8-11.9/lb, equivelent to RMB 2045-2063 yuan/mtu on import basis. While the European ferromoly assessment rose to $28.2-28.5/kg, equivelent to RMB 11,4700-11,5900 yuan/mt on export basis.

　　1, The concentrate market was reluctant to sell at low prices.

　　Mining companies in many regions, including Hei Longjiang, Mongolia, Henan and Jilin province etc., started to overhaul, leading to a tight supply in the concentrate market. 40-45% moly concentrate was reported booked at cash 1630 yuan/mtu, while 56% concentrate was concluded at cash 1720 yuan/mtu. 45-50% concentrate in the bulk market was heard at 1650-1670 yuan/mtu.

　　Today Comelan 35-40%, 40-45%, 45-50% and 50-55% concentrate assessment increase to 1620-1630 yuan/mtu, 1630-1650 yuan/mtu, 1650-1670 yuan/mtu and 1670-1700 yuan/mtu respectively. Otherwise 55% concentrate and above rise to 1700-1720 yuan/mtu.

　　2, The ferromoly price climbs rapidly, with less inquiries in the chemical market.

　　Many ferromoly companies were reluctant to sell at low prices firmly due to the difficulty of purchasing materials, which also driven the price of bulk cargoes to rise. At present ferromoly companies continued to move up its assessment mainly ranging from 11,4000-11,8000 yuan/mt, but some also intend to offer at 12,0000 yuan/mt.

　　Recently most of moly chemical companies had stopped offering and delivering temporarily, triggered by quick changes in the concentrate price. Meanwhile part of companies apprantly chose to follow this upward trend. Currently the first-class ammonium molybdate market had suffered from less inquiries, while the first-class ammonium dimolybdate price was reported concluded at 11,4000 yuan/t yesterday. The market sentiment was good and healthy. It was hard to make purchase at low prices.

　　In summary, Tight supply of concentrate spots resulted in an increase in prices. Under this circumstance the market might keep maintaining at high levels.