Recently the international molybdenum market seemed weak, while the Chinese molybdenum market maintained stable in slow trade.

　　1, The molybdenum concentrate market remains stable

　　This week the molybdenum concentrate market slowed down it space to trade, with long-term contracts going well. Most of producers with limited spots were busy delivering previous orders, alleviating pressures on sales. Besides the market had not received much inquiries. About 2000 tons of 50-55% moly concentrate in Hei Longjiang province was reported conluded at 1850-1890 yuan/mtu (low grade concentrtae paid in cash, while high grade ones paid in acceptance), exerting positive influence on the stability of the market.

　　The bulk market had seen divergence, and inquiries in the trade market seemed subdued. Sellers indicated that they were reluctant to sell at low prices as it was hard to replenish.

　　2, There are diverngences in the ferromoly market

　　According to our satistics, as of yesterday steel mills had tendered for more than 1800 tons ferromoly at a price ranging from 12,7000-13,4500 yuan/mt.

　　The ferromoly market in China was relatively quiet. Even if its quotations hovered at a high level, many participants took cautious about purchasing. The bulk market had seen many low-price transactions. At present ferromoly companies mainly offered at 13,2000-14,0000 yuan/mt. The bulk market had witnessed slack inquiries, partially showing strong intention to wait and see.

　　3, Escalation of the trade war may have impact on the molybdenum market

　　The United State decided to impose 25% tariff on 16 billion dollars products exported from China on August 23. To safeguard our legitimate interests and the multuilateral tading system, China had to take action and decided to impose 25% tariff on 16 billion dollars prodcuts from the U.S., which will be implemented simultaneously with the U.S..

　　We understood that 5% tariff is to be increased on ammonium molybdate, and 10% is to be increased on oxide powders, concentrates, moly powders, high-purity moly trioxide and other molybdenum products. Other ammonium molybdate will face a added 20% tariff, while 25% tariff is going to be increased on wrought and unwrought molybdenum as well as molybdenum wires.

　　Many participants said that they will continue to focus on its implementation and influence on the moly market.

　　In conclusion, The molybdenum market seemed quiet ,with its supply and demand maintaining stable. Most of participants expressed that they will continue to wait and see the development of subsequent markets. Sellers showed weak intention to accumulate inventories, but companies were cautious about inquring and purchasing.

　　Exlusively edited by Comelan and can not be reposted!