The molybdenum market both in and outside China steadily moved forward in divergences as market activities increasing gradually.

　　1, The international market has received more buying orders

　　Yesterday a large steelmaker in South Korea tendered for 200 tons ferromoly at $28.8-29.2/kg, and 100 tons high-copper briquettes was booked at $11.9/lb, which stimulated the international molybdenum market to turn around.

　　The international molybdenum oxide assessment range widened to $11.8-11.95/lb, equivelent to RMB 2070-2096 yuan/mtu on import basis. While the European ferromoly assessment fell to $28.8-29.2/kg, equivelent to RMB 11,87000-12,0300 yuan/mt on export basis.

　　2, The molybdenum concentrate market remains stable

　　In recent days the moly concentrate market maintained stable with less activities. Most of participants were cautious about making purchase.

　　According to our statistics, so far mainstream trading volumes of moly concentrate amounts to 5000 tons. A large amount of mining companies were busy with delivering previous orders, leading to limited spots for sales. Large mining companies offered less, and high –quality moly concentrate was relatively scarce. As we learnt some concentrates dispatched from South America will flow into the market, with 50-55% prices reaching cash 1800 yuan/mtu, which furtherly compensated the shortage of spot lots in the Chinese market. The bulk market seemed subdued, and sellers were waiting to see the development of the market.

　　3, Activities in the downstream market remain to be strengthened

　　At present ferromoly enterprises have purchased more materials than last week, basically offering at 12,5000-13,0000 yuan/mt. The market will continue to consolidate against divergences. Based on our statistics, as of yesterday mainstream steel mills have tendered for 2600 tons ferromoly, with prices mainly hovering at 12,5000 yuan/mt and above. There were still some typical steelmakers whose tendering prices have not been confirmed, and part of participants indicated that prices was likely to slightly drift down.

　　The moly chemical and product market remained stable in slow trade. Most purchasing companies gave priority to back-to back orders, and the market was still filled with cautious atmosphere. However the limited supply of chemical products will give support to the moly chemical and product market.

　　In summary, the molybdneum market bascially maintained stable in subdued trade.

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