Molybdenum highlights

摘要

At the risk of sounding repetitive, all eyes have been once again fixed on the Chinese government, while the molybdenum world awaited the announcement of its next policy change. It has finally made public the names of the 32 companies that it shall be awarding export licences to, and the licensing system came into force on June 18. However, there was one crucial factor missing: the government did not actually announce what the quota will be. So while 32 companies knew that they are allowed to export, they had no idea how much they would be able to export. Confusion continued to reign in the market, with the successful exporters still holding cautiously onto their material. The government though eventually made the announcement a week later.