Last week the price of molybdenum products moved higher sharply. The concentrate, oxide powder and ferromoly enjoyed an impressive increase, furtherly widening the price gap. Besides the international molybdenum price also moved up rapidly driven by the rising price and demands in the Chinese market.

　　1, Changes in the international molybdenum price.

　　Last week both Asia and Europe had witnessed an increase in the turnover of moly oxide and ferromoly. A large steel mill in South Korea tendered for 150 tons ferromoly at $29.3/kg, and 150 tons briquettes were booked at $12.35/lb.

　　The international molybdenum oxide assessment rose to $12.2-12.4/lb on July 27, up $0.7/lb compared with the price on July 20. While the European ferromoly assessment rose to $27.7-27.9/kg on July 27, up $1.95/kg from that on July 20.

　　2, The molybdenum market soars widenning the price gap.

　　Driven by tenders from large steel mills, the molybdenum market seemed incapable of supplying and the price of concentrate and ferromoly skyrocketed, furtherly widening the price gap. At the end of last week we learnt that some concentrate was reported concluded at 1730-1850 yuan/mtu, while the ferromoly was booked at 12,5000-13,5000 yuan/mt.

　　3, Analysis of the molybdenum market.

　　Recently the market had experienced chaos. Following are the analysis of the molybdenum market based on the whole industrial chains.

　　Molybdenum concentrate: In light of the production and inventories of mining companies, the concentrate market in China still suffered with tight supply. Meanwhile changes in the bulk market also need to be pay attention to.

　　Ferromoly and tenders from steelmakers: At present ferromoly producers were busy with buying orders. As tenders being invited the molybdenum price continued to rise. It was expected that some mills will come to make purchase this week, but the tender quantity might reduced compared with that in last week. However producers dealt with enough orders with its price maintaining at high levels, mainly due to high-price materials and environmental factors.

　　The moly chemicals and deep-processing market: Although the price of concentrate and ferromoly moved higher, the moly chemical and deep-processing products had not seen big fluctuations influenced by production and the market demand. Recently the material price was easy to rise, and the ferromoly price maintained at high levels. Moly chemical and deep-processing products might continue to climb stimulated by changes in the material market and large companies. The market was expected to turn around.

　　In conclusion, the molybdenum market will continue to ascend. The price might become more rational as previous stocks inflowing into the market gradually. Please pay attention.