Last week, The tender of steel mill was not active, the purchase price of some steel mills dropped RMB 130,000 / mt. ferromolybdenum market faced pressures .The price of raw materials remained stable, the market activity was not high, the price of molybdenum chemical and deep processing products remained stable, and the molybdenum market maintained stability.

　　International moly market remains steady

　　On September 14, the mainstream price of international molybdenum oxide was USD12.25-12.4 / lb , rose by USD 0.1 / lb to the price of USD 12.15-12.3 / lb in September 7 . , European ferromoly price was USD 29.5-29.7 / kg on September 14 , rose by USD 0.1 /kg.compared with USD 29.4-29.6 / kg on September 7. The International molybdenum oxide prices continued to maintain stability, market activity needed to be further enhanced.

　　Molybdenum concentrate market was expected to continue to strengthen

　　Last week, about 800/ t of molybdenum concentrates were traded in China, and molybdenum concentrates were traded in Henan, Inner Mongolia, Shaanxi, Jilin, Jiangxi, Fujian, Hunan and other places. A Major mineral producer continued to supply the cargoes according to orders concluded before , relatively few external offers, the bulk market was relatively quiet. In Inner Mongolia, Jilin and other places, the exchange price of high-grade molybdenum concentrate remained RMB 1920 / t in cash; 45-50% of the trading price of molybdenum concentrate was RMB 1910 / t in Jiangxi region ; and 40-45% bargaining price in bulk market was RMB 1860-1870/ t . Less than 40% molybdenum concentrate was also traded in cash RMB1840-1860/t.

　　At present, most domestic molybdenum concentrate producers and traders maintained a low inventory state. The supply of molybdenum concentrate was still relatively tight, the mood of the cargo holders was stable, the attitude of low prices and reselling was obvious, and the pressure from downstream enterprises was also gradually obvious. Continued to pay attention to the rhythm of major mining enterprises. sentiment

　　Concerns on the continued release of needs

　　More than 1000 t of ferromolybdenum were purchased by domestic steel mills last week, and the bidding price was between RMB 127,000 -133,000/mt. The amount of bidding was small and the price fell, which led to the pressure on the ferromolybdenum market.

　　From the consumer side of the situation, By this month, The tender quantity of steel mills are still relatively small ,whether producers could keep profits or not still largely depends on the change in bidding prices. In the last two working weeks of September, steel factory purchasing demand will be concentrated in the market, which will benefit the stock consumption of ferromoly and the healthy development of molybdenum city. At the same time, the ferromoly released from the bidding in the steel plant is a double-edged sword to the molybdenum market. If the bidding fails, it will give pressure to the molybdenum market.