Morning Molybdenum Market Guidance on October 22
On October 21, LME molybdenum futures price remained relatively stable. March molybdenum offer 19500/20500 dollars / ton; 15-month molybdenum offer $ 20000/21000 / tonne, LME molybdenum positions 156 hands.
Macro News: Resource tax reform timetable settled, which has the full implementation in the next five years; September revenue rose only 6.3 percent, spending is still outperforming revenue; GDP of third quarter up by 7.3%, commodity prices are still under pressure.
The current favorable internal and external factors began to be weaken, and the prices continue to rise, lack of motivation, which has some negative impact on the business outlook expectations. Lack of substantive demand, supply and demand still room for improvement, although manufacturers are still orders exist, turnover was higher than the previous, high turnover difficulties in promoting the market continues to improve.
Molybdenum Concentrate Quality Standards (Mass Fraction)
Molybdenum concentrate quality standards (mass fraction).
Molybdenum Oxide Prices Hit Six-month Low, Ferromoly Softer
Spot molybdenum oxide prices have subsided to their lowest levels in almost six months, with the Platts daily dealer oxide assessment hitting $11/lb for the first time since the beginning of April.
China Needs to Accelerate the Establishment of Molybdenum Concentrate Reserve System
September 4, 2014, according to Chile's "strategic News" report, Chile's national copper company Codelco plans to increase 25,000 tons in the original production of molybdenum before 2023 years, based on the planned 58,000 tons, increased by 43%. The thing that Codelco plans to increase molybdenum production undoubtedly worsens the already overcapacity molybdenum industry, so China should accelerate the establishment of the domestic terms of molybdenum concentrate Reserve System.
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