Last week the molybdenum market both in and outside China had seen a decrease in its price, but participants held different opinions on the market. The ferromoly market seemed subdued in slow trade, with part of prices dropping below 13,0000 yuan/mt. The moly concentrate market had been experiencing huge divergences. Mainstream mining companies attempted to maintain its transaction price stable and healthy, while the bulk market had seen an obvious decrease in its prices. The moly chemical and deep-processing product picked up to a higher level, with less transactions.

　　1, The international molybdneum price fall weakily

　　The international molybdenum market moved weakily, with prices felling to an extent last week. Participants were cautious about making purchase.

　　The international molybdenum oxide assessment fell to $11.9-12.1/lb on August 10, down $0.4/kg from the price on August 3. While the European ferromoly assessment unchanged at $29.35-29.5/kg on August 9, down $0.7/kg compared with that on August 3.

　　2, Analysis of the Chinese molybdenum market

　　Mining companies enjoyed a smooth production, with its supply maintaining stable. At present large-and medium-sized companies possessed limited inventories, facing less pressures on sales. With long-term contracts being accomplished, most of large enterprises indicated that the market will continue to remain steady. Otherwise many sellers benefited from the previously sharp rise were not confident about holding stocks, which led to a strong intention to deliver in the bulk market. However lots of participants were cautious about making purchase, causing an apprant deacrease in its transaction price.

　　Ferromoly producers were enthusiastic about purchasing raw materials as the profit seemed lucrative. In the middle of August steel mills made less purchase and new orders from producers were also less than before. The ferromoly market had witnessed obvious competation, which led its price to drop obviously. Currently the ferromoly assessment fell to 12,6000-13,6000 yuan/mt. The market was filled with cautious atmosphere, and producers also slowed down their pace to purchase materials.

　　The tense situation in the material market had changed. Moly chemical and deep-processing porducers started to offer gradually, furthurly focusing on changes in the market transaction.

　　In conclusion, the relation between the market demand and supply had been alleviated, and the market bascially maintained steady. Besides the market sentiment seemed weak, with participants holding different opinions on it.