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Outlook gloomy for moly conc in China

June 26, 2014 - 05:18 GMT Location: Shanghai

KEYWORDS: China molybdenum , moly

China’s molybdenum concentrate prices fell this week amid rising mid-year liquidity pressure and low purchasing prices by local steel mills.

On Wednesday June 25, molybdenum concentrate of 45% content was trading at 1,320-1,350 yuan ($214-219) per tonne, compared with 1,320-1,380 yuan per tonne last week.  "Everyone is in a tight liquidity situation right now," an analyst said. June is usually when companies settle half-year loans by local banks. Market participants said that molybdenum concentrate...

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