[Ferro-Alloys.com]  Medium price of USD vs. renminbi stood at 6.4010 on August 13 after a 3-day consecutive depreciation. Total depreciation rate reached 4.6%. August 18 saw it rise a bit. How did the fluctuation these days influence molybdenum import and export?

Overseas molybdenum oxide price rebounded at middle-July due to increased import from China while the price fell again at the month end because dropping prices resulted in reduced import.

Renminbi’s depreciation brought increased Chinese molybdenum export. The influx prompted European practitioners to adjust down their quotation prices.

The short-term depreciation won’t push high molybdenum prices, as well as boosting export.

• [Editor:Zhang Xing]