Longyu raises molybdenum auction prices

摘要

Major Chinese molybdenum producer Longyu raised its auc- tion prices for molybdenum concentrate today amid stronger buying interest from ferro-molybdenum smelters. The firm's auction was concluded at 1,490-1,505 yuan/ mtu ($228-230/mtu) ex-works for 240t of 47pc grade concen- trate today after three rounds of bidding. This was up from the starting price of Yn1,450/mtu ex-works, and higher than its previous auction price of Yn1,445-1,455/mtu ex-works on 10 December.