At the beginning of this week the molybdenum market both in and outside China performed good as buying business increasing. The market continued to turn around.

　　1, The international molybdenum market seems brisker, with prices slightly rising

　　Yesterday the international molybdenum oxide assessment unchanged at $11.9-12/lb, equivelent to RMB 2082-2100 yuan/mtu on import basis. While the European ferromoly assessment range widened to $29-29.2/kg, equivelent to RMB 11,9100-11,9900 yuan/mt on export basis.

　　The Chinese market was stable, while the international molybdenum market has seen an increase in its transactions. It was hard to make purchase at a price below $12/lb, and the ferromoly prices also rose to $29/kg and above, source said.

　　2, The moly concentrate market with tight supply becomes active again

　　Large mining companies suffering with tight supply possessed only a few concentrate spots that can be circulated in the market. A large-sized company in Hei Longjinag, as we learnt , will stop to overhaul and pospone delivering previous orders, which will likely to stimulate the bulk market again.

　　Under this circumstance the bulk market has begun to rally up, with inquiries and transactions increasing. Yesterday 50-55% moly concentrates were reported booked at cash 1830 yuan/mtu in Jilin province, and 45% concentrates were heard concluded at 1800 yuna/mtu. It was difficult to purchase at low prices.

　　3, The ferromoly market sentiment is good, with some producers intending to rise quotations

　　A large steelmaker in Shanxi province has tendered for ferromoly at acceptance 12,5000 yuan/mt, giving positive support to the market. Many sellers indicated that the ferromoly prices were hard to drop. Meanwhile affected by the brisk material market low-price ferromoly gradually faded from the market, and producers mainly offered at 12,5000-13,0000 yuan/mt. There were also some producers with limited sopt lots offered at 13,0000 yuan/mt and above. Please pay attention to tenders at the end of this month.

　　4, The moly chemical and deep-processing market continues to wait

　　Influenced by the stability of the moly concentrate market, moly chemical and product companies mostly tried to maintain its quotations stable. At present the first-class ammonium molybdate and dimolybdate assessment unchanged at 12,6000-12,8000 yuan/t and 12,8000-13,0000 yuan/t respectively. The first-class molybdenum powders assessment also remained stable at 25,5000-26,5000 yuan/t. The market demand was good, but the actual delivery was under expectations. Downstream companies were not enthusiastic about purchasing, strongly waiting to see the development of the market in the future.

　　In summary, this week the molybdenum market both in and outside China seemed optimistic as inquiries and transactions increasing. The market foundamentals remained stable, and many participants paid attention to the market demand.

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