October of molybdenum concentrate production rose 4.1% to 8,033 tons of molybdenum

According to the China Nonferrous Metals Industry Association's latest statistics show that in October of molybdenum molybdenum content of 8,033 tons of molybdenum (metal content, the same below), compared with last month's 7,716 tons of molybdenum molybdenum chain increased 317 tons, an increase of 4.1 %, compared with last year's 6,228 tons of molybdenum increased by 29%, in the first 10 months of production ranked second, just below the 8,372 tons this year, in June of molybdenum.From the sub-region's production data, production of molybdenum concentrates in Liaoning Province in October chain increased 644 tons of molybdenum, an increase of 229%, which means that in other parts of the country outside of Liaoning Province, Oct. molybdenum concentrate production chain reduced 327 tons of molybdenum which in Henan this country's largest producer of molybdenum, molybdenum production chain to reduce 506 tons of molybdenum, down 12.9%, Shaanxi and Inner Mongolia have been growing despite the production, but the chain increased by only 5.4% and 2%.U.S. financial crisis sweeping the world walks of life, molybdenum market was not spared. From the end of September, the international price of molybdenum plating crazy fall. Among them, the European market bottled molybdenum oxide prices from September 26 to 31.6-32.75 dollars / pounds of molybdenum 9-10.5 crashing to the current dollar / pound of molybdenum, a decrease of 72%, which is March 12, 2004 that four and a half years the lowest price, and 1-9 this year's high and stable operation differ, when prices stabilized at 32.2-34 dollars / pounds of molybdenum; earlier, Western molybdenum iron (65-70% Mo) price from 75.75-77.25 U.S. dollars / kg plunged to 24.25-26.5 dollars / kg, a drop of 68%, and has been since the end of March 2004 fell to its lowest level; Chinese Molybdenum crucible (60% Mo) Rotterdam warehouse stock price from 77-78 dollars / kg down to 28-32 U.S. dollars / kg, a decrease of 64%. The U.S. market canned molybdenum oxide prices from 33.5-34 dollars / pounds of molybdenum plummeted to 11.75-13 dollars / pounds of molybdenum, a decline of 65%. You can see, the international price of molybdenum has broken nearly three years since the beginning of 2006, the high level pattern, under pressure from the financial crisis blew. Currently on the international market, the production company that 10 U.S. dollars / pounds of molybdenum will be the lowest point of the price decline, traders believe that short-term prices will 7-8 dollars / pounds of molybdenum bottomed out, but the face of continued panic selling well lackluster buying interest in the market, the prices fell more and more difficult to predict the bottom of the cycle, consumer companies are pessimistic that the price will drop to $ 2 / lb of molybdenum, it will be the lowest price in 30 years.