Metal Bulletin reported that Chinese molybdenum concentrate prices fell this week due to “rising mid-year liquidity pressure” and “low purchasing prices by steel mills.”
As quoted in the market news:
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.
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