Asian Metal News
Yichun Luming Mining, which has molybdenum concentrate capacity of 45 ktpy (50% grade), is scheduled to repair equipment over 7 days starting July 24th, in accordance with their regular quarterly maintenance plan.
According to a company source, “Although maintenance will reduce the production of molybdenum concentrate by at least 50%, (to about 900 t), in order to ensure the stability of supply and the quality of product, routine inspection is essential.”
The company produced 28 kt of molybdenum concentrate in 2018. The production target for 2019 is 30 kt, of which 13.7 kt has been completed to date. 2,500 t molybdenum concentrate was produced in June and 1,500 t in July. Currently, there is no stock.
At present, mainstream transaction prices of domestic molybdenum concentrate (50% grade) are standing at RMB 1,920-1,960/t cash, RMB 90/t higher than last week’s prices.