Last week the molybdenum price both in and outside China continued to rise, but showing a kind of weakness later. Please pay attention to transactions in this week.

　　1, The molybdenum market outside China seems weak

　　The international molybdenum price seemed a little weak after a sharp increase. The trade market showed strong intention to sell causing great pressures on the market, but its transaction price slightly fell.

　　The international molybdenum oxide assessment fell to $12.35-12.5/lb on August 3, up $0.125/lb compared with the price on July 27. While the European ferromoly assessment unchanged at $29.9-30.2/kg on August 3, up $0.3/kg from that on July 27.

　　2, The moly concentrate market focuses on large mining companies

　　Last week the transaction price of moly concentrate in the bulk market basically rose to 1800 yuan/mtu and above. Moving rapidly before, the market started to calm down gradually and traders were strongly willing to sell. Meanwhile due to the inflow of previous inventories, the market also became more cautious, with its buying business dropping.

　　At present the concentrate market was moving steadily. This week most of participants paid close attention to quotations and transactions from large mining companies. We understood that large mining companies had seen limited stocks and small pressures, starting to finish previous orders. The bulk market was flat. As supply stabilizing, large mining companies will begin to offer and deliver.

　　3, The downstream molybdenum market performs different.

　　The ferromoly market appeared a certain divergence after a sharp rise in its price. Currently producers were firmly reluctuant to sell at low prices, while traders strongly intended to deliver. Steel mills tendered for ferromoly normally at a high price, but the price of bulk cargoes had seen huge difference. Producers slowed down to make purchase.

　　As the price of concentrate and oxide powder sharply going up, most of moly chemical and deep-processing produers chose to stop offering temporarily. However with the market stabilizing producers started to offer gradually. At present the first-class ammonium molybdate and dimolybdate assessment rose to 12,6000-12,8000 yuan/t and 12,8000-13,0000 yuan/t respectively. The first-class molybdenum powder assessment also climbed to 25,5000-26,0000 yuan/t.

　　In conclusion, the moly concentrate market was unlikely to experience big fluctuations. The moly chemical and metal market steadily followed up. The ferromoly market demand had huge impact on the subsequnet market.