Recently a large mining companies in Hei Longjinag province presold moly concentrate and a large steel mill in Shanxi province tendered for ferromoly, both exerting positive influence on the stability of the molybdenum market.

　　The international molybdenum market seemed subdued, with its transaction price felling continuously. Yesterday the international molybdenum oxide assessmnet range widened to $12.1-12.35/lb, equivelent to RMB 2110-2154 yuan/mtu on import basis. While the European ferromoly assessment fell to $29.1-29.7/kg, equivelent to RMB 11,9000-12,1500 yuan/mt on export basis.

　　1, The molybdenum material market maintains stable

　　As the molybdenum price peaking, some previous inventories started to flow into the market. From the second half of last week, the market turned to be more cautious and began to slow down its pace to make deals. Overall the market had seen a steady trend, with the quotation of 45-50% concentrate reaching 1830-1850 yuan/mtu.

　　A large-scaled mining company in Hei Longjiang province presold some 50-55% concentrate at cash 1850 yuan/mtu. It was reported that the total transaction had exceeded 1700 tons. Dowstream companies were enthusiasic about purchasing, which also gave support to the stability of moly concentrate market.

　　2, Large steel mills come to make purchase in stable trade

　　Yesterday a large steelmaker in Shanxi province openly tendered for about 650 tons ferromoly at acceptance 13,2800 yuan/mt, furtherly having impact on the stability of the ferromoly market.

　　Based on our statistics, as of yesterday maintstream steel mills had purchased about 1800 tons. At present ferromoly companies tried to maintain its quotations at 13,5000-14,0000 yuan/mt, but they were still not interested in large delivery because of limited spot lots. Typical steel mills mostly purchased at a price of 13,1000-13,5000 yuan/mt. The bulk market had been experiencing chaos, with less actual buying business.

　　3, Moly chemical and product market are hesitating

　　The moly chemical and product market seemed quiet, and lots of enterprises in China focusing on the delivery and transactions from large mining companies. Affected by the stable price of moly concentrate, moly chemical and product companies also maintained its quotations stable

　　In conclusion, the market demand remained stable. As demand releasing the molybdenum market had witnessed steady transaction

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