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Japan's May molybdenum imports from China rise after 4 months

Japan's imports of roasted molybdenum concentrates and ores from China in May 2006 rose after four months of decline, the latest Ministry of Finance data showed.

Japan imported 214 mt of roasted molybdenum concentrates from China in May, up 29% from the same period in 2005. From January to April, monthly moly imports had continued to decrease year on year. Moly imports from China in the period from January to May 2006 had decreased by 25.5% to 848 mt from the same period in 2005.

Chinese moly materials are mostly traded on spot basis and China is the largest spot material supplier to the Japanese. Chinese materials accounted for 7% of Japan's total moly imports in 2005.

A source at a Japanese buyer said his company has not engaged in active spot deals this year as "consumption of Chilean materials on annual contracts is at pace with the initial plan."

Some sources, however, noted the reduced availability of spot materials from Chile and Mexico since late May due to a strike at Grupo Mexico mines.

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