traders stay on the sidelines

Molybdenum market : Today, 30-38 % of low-grade molybdenum concentrate prices in 1340-1390 yuan / ton degrees ; conventional 40-45 % molybdenum mainstream price 1380-1410 yuan / ton , high -grade 47% and above molybdenum mainstream price 1410-1430 yuan / ton degrees nearby. No significant fluctuations in product prices , but because the market long deserted , some mining companies need cash flow in order to maintain normal operations and low prices of foreign goods. However, the overall market demand is poor, traders stay on the sidelines , while the alloy market products also shrinking demand greater impact. We expect short-term raw material prices weak consolidation .
Ferro molybdenum market : Current 60 molybdenum mainstream prices remained at 9.6-9.7 yuan / ton near mainstream acceptance 9.8-9.9 yuan / ton. As merchants difference to their own circumstances , external offer mentality has changed significantly. Low price long run , profitable businesses is difficult , and some molybdenum manufacturers began to stop foreign quote , some manufacturers are currently maintaining old customer oriented . A manufacturer said that as the market is poor , the existing plant capacity and output not so serious , inventories remain low , so it is difficult to supply a large number of new customers , waiting for post-market turns for the better and then adjust .
July 17 LME Molybdenum tube futures offer remains at the original low level, in March of molybdenum offer 20,000 / $ 21,000 / ton ; 15 -month molybdenum Quote 20720 / $ 21,720 / ton , LME molybdenum positions of 216 hands. Today newsletter : Department of Commerce: late July to support the introduction of intensive trade measures ; negative growth in bank deposits , deposits declined by mid-July, over one trillion ; Bernanke's testimony to Congress : Reaffirming the end reduced QE, next year to stop QE.