European ferromolybdenum prices weak
2023-03-03 08:20:52 [Print]
BEIJING (Asian Metal) 3 Mar 23 - In view of the rare inquires in spot market, European ferromolybdenum 65%min market saw soft mentality during the past week. At present, the mainstream prices of European ferromolybdenum 65%min stay at USD89.5-90/kg Mo in warehouse Rotterdam, unchanged from late last week. Though the supply still stays tight, considering that the weak demand from terminal users continues, insiders believe that the mainstream prices of European ferromolybdenum 65%min would move down in the coming week.
"Our regular clients all prefer to watch the market for the moment, but we refuse to loosen our price to promote sales as we have no inventory pressure. For firm bids, we still quote USD90/kg Mo in warehouse Rotterdam now," said a trader in South Europe. They last sold 10t of ferromolybdenum 65%min at this price level about one week ago. One buyer wanted to buy 10t with the target price of USD86/kg Mo this Wednesday and they didn't accept. Considering that most buyers prefer to watch the market and inquiries in spot market stay rare now, they predict that the mainstream prices of European ferromolybdenum 65%min would drop by around USD4/kg Mo in the coming week.
With a trading volume of 40tpm, they expect to sell about 40t this month according to the feedback of their regular clients, almost the same as January. They have no stock for the moment, unchanged MoM.
"Inquiries in spot market stayed rare during the past week, and we could hardly increase our price. However, we didn't loosen our price to promote sales either as we have no inventory pressure. For firm bids, we ask at least USD89.5/kg Mo in ware house Rotterdam at present," said another trader in South Europe. They last sold 20t of ferromolybdenum 65%min at this price level about 10 days ago and didn't receive any inquiries after that. In view of the quiet market, they expect that the mainstream prices of European ferromolybdenum 65%min would drop below USD86/kg Mo in the following week.
With a regular trading volume of 60tpm, they expect to sell about 40t this month, down by about 20t from last month, holding no stock now, unchanged MoM.
"Our regular clients all prefer to watch the market for the moment, but we refuse to loosen our price to promote sales as we have no inventory pressure. For firm bids, we still quote USD90/kg Mo in warehouse Rotterdam now," said a trader in South Europe. They last sold 10t of ferromolybdenum 65%min at this price level about one week ago. One buyer wanted to buy 10t with the target price of USD86/kg Mo this Wednesday and they didn't accept. Considering that most buyers prefer to watch the market and inquiries in spot market stay rare now, they predict that the mainstream prices of European ferromolybdenum 65%min would drop by around USD4/kg Mo in the coming week.
With a trading volume of 40tpm, they expect to sell about 40t this month according to the feedback of their regular clients, almost the same as January. They have no stock for the moment, unchanged MoM.
"Inquiries in spot market stayed rare during the past week, and we could hardly increase our price. However, we didn't loosen our price to promote sales either as we have no inventory pressure. For firm bids, we ask at least USD89.5/kg Mo in ware house Rotterdam at present," said another trader in South Europe. They last sold 20t of ferromolybdenum 65%min at this price level about 10 days ago and didn't receive any inquiries after that. In view of the quiet market, they expect that the mainstream prices of European ferromolybdenum 65%min would drop below USD86/kg Mo in the following week.
With a regular trading volume of 60tpm, they expect to sell about 40t this month, down by about 20t from last month, holding no stock now, unchanged MoM.
