Molybdenum concentrate trade picked up in brisk market. At the end of this month, large-sized steel mills will issue buy tenders, which will likely to stimulate the molybdenum market furtherly.

　　On Tuesday less deals have been concluded in the international molybdenum market, with participants waiting to see its development. Yesterday the inetrnational molybdenum oxide assessment range widened to $11.8-12/lb, equivelent to RMB 2062-2097 yuan/mtu on import basis. While the European ferromoly assessment unchanged at $29-29.2/kg, equivelent to RMB 11,8900-11,9700 yuan/mt on export basis.

　　1, The moly concentrate market has seen more activities

　　This week as a large mining company started to overhaul, inquiries and transactions in the bulk market became active again. Many regions, including Jilin, Mongolia, Shananxi, Henan, Jiangxi and Hunan etc., have concluded transactions.

　　45-50% and 50-55% moly concentrate prices hovered at 1800-1830 yuan/mtu and 1830-1850 yuan/mtu respectively. According to our statistics, as of yesterday the mainstream trading volume of molybdenum concentrate has exceeded 5600 tons. The bulk market has received more inquiries, and it was hard to find low-price spot lots.

　　2, The downstream market awaits for news on tender

　　Approaching the end of August many steel mills start to make purchase. Yesterday a large steelmaker in Shanghai has issued a buy tender for 900 tons ferromolybdenum but the price has not been announced, which attracted the market’s attention. We understood that as of yesterday mainstream steel mills have tendered for more than 4400 tons ferromoly, forecast to be reach 8000 tons at the end of this month.

　　Recently ferromoly companies in China still offered at 12,5000-13,0000 yuan/mt. Affected by the brisk moly concentrate market, some companies have risen their quotations to a higher level. The bulk market has seen active inquiries, with its price range widening. The highest price reached 12,8000 yuan/mt, sources said. Please pay attention to subsequent transactions.

　　The moly chemical and product market remained stable. Influenced by the overhaul of a large mining companies, chemical companies tried to maintain its quotations firm in slow trade, with market inquiries increasing. The moly product market has not seen apprant changes, with prices remaining stable.

　　In conclusion, the market supply seemed tight ,while demand started to rise. Participants were optimistic about the molybdenum market, focusing on buy tenders from steel mills.