Molybdenum Market Report January 2013

As the spot material of Chinese molybdenum concentrate was still tight and demand for molybdenum material became relatively strong caused by more tenders for ferromolybdenum early this month, molybdenum prices soared up with the highest price rising to RMB1,800/mtu for molybdenum concentrate and around RMB130,000/t for ferromolybdenum .Asian Metal CopyrightAs the spot material of Chinese molybdenum concentrate was still tight and demand for molybdenum material became relatively strong caused by more tenders for ferromolybdenum early this month, molybdenum prices soared up with the highest price rising to RMB1,800mtu for molybdenum concentrate and around RMB130,000t for ferromolybdenum .Asian Metal Copyright However, as most of steel mills finished the purchase for ferromolybdenum, demand for molybdenum turned to be quiet and molybdenum prices fell back in the second half of this month. By the end of January, molybdenum concentrate prices came down to the range of RMB1,700-1,750/mtu and ferromolybdenum prices decreased to the range of RMB119,000-124,000/t.Asian Metal Copyright However, as most of steel mills finished the purchase for ferromolybdenum, demand for molybdenum turned to be quiet and molybdenum prices fell back in the second half of this month.Asian Metal Copyright