The international molybdenum market sees rise since last week, and stop at $6-$6.15/lb Friday. Yet, the domestic molybdenum market is slow, which is mainly influenced by the procrastination of tender results. The result from last Friday dismays the market.

　　A steel mill from Shanghai holds tender for ferromoly 300 ton, and the result is Yuan 56000-56500/mt, 3 months accepted; a steel mill from Shanxi holds tender for ferromoly 560 ton, and the result is Yuan 56000/mt accepted.

　　Some plants are willing to take the chance to blowout and maintain the furnace. However, their production is fine at the moment, and material used are all from previous purchase at Yuan 820-850/mtu accepted. The cost is about Yuan 60000/mt, and the bulk cargo price is about Yuan 60000-62000/mt last two week. The ferromoly trade is very weak before the tender, and it might face more difficulties after that.

　　Mines that run are still operating now, and most of them are handling previous orders. As the financial pressure is lessening, offers are firm.

　　According to mines from the northeast, Inner Mongolia and Henan region, most offers are the same. Some mines have to make sales due to financial pressure, and high grade molybdenum concentrate is at Yuan 830-850/mtu.

　　Other steel mills from Tianjin, Jiangsu and Gansu are going to hold tender, and the price may be similar to the previous round. The ferromoly is dragging the whole molybdenum market down, which gives an ominous foreshadowing for the future.