Buying activity in the Chinese molybdenum market was thin as many participants waiting to see the development of the subsequent market, while the molybdenum market outside China received some buying orders, with prices moving lower.

　　1, The international molybdneum prices slide lower, see more inquiries and transactions

　　A large-sized steelmaker in South Korea intends to purchase 200 tons ferromoly and 100 tons oxide briquettes on Thursday, which has stimulated activities in the Asian bulk market. More deals were heard concluded at a low price in the Asian bulk market.

　　Yesterday the international molybdenum oxide assessment fell to $11.8-11.9/lb, equivelent to RMB 2073-2091 yuan/mtu on import basis. While the European ferromoly assessment also fell to $29-29.5/kg, equivelent to RMB 11,9500-12,0400 yuan/mt on export basis.

　　2, Less molybdenum concentrates have been booked in the stable market

　　According to our statistics, as of yesterday about 4000 tons moly concentrates have been concluded in China. 200 tons of 40-45% concentrates have been booked at cash 1780-1790 yuan/mtu in Zhejiang province, while 45-50% concentrates with the same quantity have been traded at acceptance 1835 yuan/mtu in Henan province. In Sichuan province 60 tons of high-copper moly concentrates were reported booked at cash 1760 yuan/mtu. The bulk market was filled with a cautious atmosphere, with less buyings and actual deals.

　　3, The ferromoly and chemical metal market appeared differences

　　Based on our statistics, as of yesterday mainstream steel mills have tendered for more than 2200 tons ferromoly bascially at a low price. At present ferromoly companies appeared willing to drop offer levels to 12,6000-13,0000 yuan/mt, but high-level offers and transactions were less. The bulk market has been experiencing chaos, with the lowest prices reaching 12,0000 yuan/mt.

　　Recently there has been a correction on the transaction of moly concentrate and ferromoly quotations. However affected by the small adjustment on concentrates and the closure of some chemical companies in Shananxi, chemical companies in China suffered with limited supply, with prices maintaining stable. The moly powders market also remained stable driven by the chemical product prices.

　　In conclusion, buying activity in the international molybdenum market started to rise, while the Chinese market was relatively quiet, with participants taking no actions.