At the beginning of this week the molybdenum market was quiet and stable. Large-scaled mining companies providing quotations and making delivery gradually helped the material market maintain healthy, which furtherly made a contribution to the stability of the molybdenum market.

　　1, The international molybdenum product prices slightly drift down

　　Recently the Chinese market performed steady, while the international moly market seemed subdued. Buyers expressed less enthusiasic about purchasing, with its transaction price slightly falling.

　　Yesterday the international molybdenum oxide assessment fell to $12.25-12.35/lb, equivelent to PMB 2143-2160 yuan/mtu on import basis. While the European ferromoly assessment unchanged at $29.9-30.2/kg, equivelent to RMB 12,2700-12,4000 yuan/mt on export basis.

　　2, The molybdenum concentrate market maintains steady

　　Early this week mining companies in Mongolia and Shananxi province normally carried out its long-term contracts. The concentrate bulk market was relatively quiet with less activities.

　　A large mining companies in Hei Longjiang province decided to presell some concentrate yesterday, with 50-55% moly concentrate price reaching 1850-1890 yuan/mtu (low grade ones paied in cash, while high grade ones paid in acceptance). We preliminarily understood that downstream producers mostly had indicated that this price could be accepted, showing strong intention to make purchase. The quotation from this companies might promote transactions of molybdenum concentrate, having positive impact on the market.

　　3, The downstream molybdenum market moves forward steadily

　　At the beginning of August steel mills slowed down their pace to purchase ferromoly. As of yesterday mainstream mills in China had tendered for about 500 tons mainly at a high price. At present ferromoly producers were firmly reluctant to sell at low prices, but some of them seemed cautious because of less inquiries and more profit-taking. Overall the future of the subsequent market waited for the guidance of typical steelmakers.

　　Most of moly chemical companies maintained its quotations at the same level as last week. The first-class ammonium dimolybdate assessment hovered at 13,0000 yuan/t. The market slowed down to achieve transactions, showing obvious atmosphere of waiting. The moly product market had seen chaos in its quotations, with the moly powder assessment reaching 25,5000-27,0000 yuan/t. We learnt that the first-class molybdenum powder was heard concluded at a highest price of 26,5000 yuan/t. Producers focusing on molybdenum bar and wires still failed to offer definite quotations. It was predicted that large producers will make a confirmed quotation plan after the stability of the material market.

　　From the above, the international molybdenum price have been sliding down in recent days, while the molybdenum market in China seemed cautious. The delivery made by large mining companies help the concentrate market maintain at a high level, giving strong support to the stability of molybdenum market.