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Molybdenum-iron, domestic market outlook will continue to show weak consolidation pattern

Financial News: the approval of the China Securities Regulatory Commission to DCE to carry coking coal futures trading; the previous period term crude oil futures fastest will be launched during the year; the breaking stock of direct investment overseas financial institutions in China last year $ 80 billion; IMF stressed that support the Egyptian capital demand; OECD leading indicators show the euro-zone economy is expected to recover this year; Germany in February CPI rose 1.5% in more than two-year low final value per annum; February economic data convey a positive signal to China's economic rebound trend show; M2 balance almost equal to one million one hundred million Wu suggested the central bank to manage currency; the Sichuan Chemical within their means to invest 25 billion yuan in Chengdu to build a modern steel logistics Metro; SOE reform program is expected to the first half of the introduction of the SAC on the direction of research.

The steel mills tender information is as follows: March 8, east of a steel mill to 112,600 / ton (acceptance) move 30 tons of ferro molybdenum; March 11, east of a steel mill to 108,700 / ton (acceptance) recruited 20 tons of molybdenum iron; March 11, north of a steel mill to 111,500 / ton (acceptance) move 40 tons of ferro molybdenum.

According to market participants, the European ferro-molybdenum spot oversupply, excess inventory levels. European ferro-molybdenum transaction price fell slightly, a small amount of turnover. Europe molybdenum oxide price 11.1-11.2 U.S. dollars / pounds of molybdenum.

Slightly lower pattern of domestic molybdenum market prices in early March, less volume, ferro molybdenum market also fell slightly from the previous month price decline in the 4000-5000 yuan / ton, because the decrease in downstream demand, lower prices of raw materials molybdenum concentrate , mines offer strong international market Platts molybdenum oxide continued downward, steel tender prices, oversupply persists.

Expected: molybdenum-iron, domestic market outlook will continue to show weak consolidation pattern,molybdenum-iron, is expected in April 2013, the molybdenum market will show a slight downward pattern, break up is not possible.

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