The molybdenum price in China had reached its highest level as a result of tight supply and continuous tenders. Recently the ferromoly market took the first shot, with its prices reaching 12,5000 yuan/mt. Some producers started to offer at 13,0000 yuan/mt. Influenced by this situation, major molybdenum products had seen an obvious increase in prices.

　　1, The molybdenum market outside China continues to rise

　　The molybdenum prices in China rose sharply, giving support to the international molybdenum market. Yesterday a large-scaled steel mill in South Korea tendered for 150 tons ferromoly and briquettes respectively at $29.3/kg and $12.35/lb.

　　Yesterday the international molybdenum oxide assessment rose to $12.05-12.25/lb, equivelent to RMB 2090-2125 yuan/mtu on import basis. While the European ferromoly assessment climbed to $28.9-29/kg, equivelent to RMB 11,6000-11,8000 yuan/mt on export basis.

　　2, The molybdenum product price both in and outside China push higher

　　Molybdenum concentrate and oxide powder: According to our statistics, as of yesterday the mainstream turnover of concentrate closed to 7500 tons. Lots of mining companies failed to provide supply to the market, driving the price of concentrate in the bulk market to rise. Recently oxide powder reported booked at 1830-1840 yuan/mtu in Henan province. About 450 tons 40% concentrate were sold at cash 1695 yuan/mtu in Jiangxi province, while 56% concentrate were concluded at cash 1800 yuan/mtu. Bid and inquiries in the bulk market continued to increase. A mining companies in Henan province was reported to sell 90 tons concentrate, with its bid reaching 1850 yuan/mtu. Please pay attention!

　　Ferromoly: As of yesterday mainstream steel mills in China had purchased about 8700 tons ferromoly, with its price announced at 12,5000 yuan/mt. Companies were firmly reluctant to sell at low prices because of the difficulty of purchasing. Most of enterprises chose to stop offering temporarily, while some began to rise its assessment up to 13,0000 yuan and above.

　　Moly chemical and prodcuts: With the concentrate price soaring most of moly chemical companies stopped to deliver. At present the first-class ammonium molybdate, dimolybdate and heptamolybdate assessment rose to 11,6000-11,8000 yuan/t, 11,8000-12,0000 yuan/t and 12,0000-12,3000 yuan/t respectively. Meanwhile the high-purity moly trioxide assessment climbed to 14,1000-14,3000 yuan/t. Mainstream producers also lifted its moly powder assessment up to 22,6000-23,0000 yuan/t. Overall the transaction price continued to ascend gradually, and the market was expected to improve in the future.

　　In conclusion, the molybdenum price soared to its highest level unexpectedly, mainly influenced by the tight supply and the attitude of sellers.