Longyu raises molybdenum auction prices

摘要

Chinese molybdenum mining firm Longyu raised its auction prices for molybdenum concentrate yesterday compared with a tender it settled late last month, in response to higher concentrate prices outside of China. The auction was concluded at 2,110-2,120 yuan/mtu ($330-332/mtu) ex-works paid by cash for 47pc grade concentrate after four rounds of bidding, up from its start price of Yn1,970/mtu ex-works. It sold 300t of 47pc grade concentrate at Yn1,850/mtu ex-works paid by cash and 300t of 45pc grade concentrate at Yn1,870/mtu paid by acceptance bill on 26 May.