Chinese molybdenum powder prices down
2023-03-06 08:49:47 [Print]
BEIJING (Asian Metal) 6 Mar 23 - As raw material prices dropped during the past week, few molybdenum powder consumers would like to build inventory and the market mentality turned negative accordingly. Currently, the mainstream prices of Chinese molybdenum powder 99.95%min stand at RMB637-640/kg (USD91.5-92/kg) EXW D/A 180 days, down by RMB10/kg (USD1.4/kg) from middle last week. Considering that inquiries in spot market stay rare and the soft market mentality continues, insiders believe that the mainstream prices of Chinese molybdenum powder 99.95%min would go down further in the coming week.
"As raw material prices moved down during the past week, our clients kept reluctant to purchase. In order to guarantee our market competitiveness, we could accept RMB640/kg (USD92/kg) EXW D/A 180 days now," said a producer in North China. They just sold 5t at this price level about two days ago. However, they refused to sell at any prices below RMB650/kg (USD93.4/kg) just one week ago. One of their major clients even only want to purchase at around RMB600/kg (USD86.2/kg). Considering that most buyers prefer to watch the market and inquiries in spot market stay rare now, they believe that the mainstream prices of Chinese molybdenum powder 99.95% could drop to around RMB630/kg (USD90.5/kg) in the coming week.
With an annual production capacity of 1,800t, the producer produced around 1,360t in 2022 and about 240t in the first two months of 2023. They expect to produce about 120t this month, almost the same as last month, holding around 20t of stocks for the moment, up by about 20t MoM.
"Most buyers prefer to watch the market and we could hardly close any deals at any prices above RMB640/kg (USD92/kg) EXW D/A 180 days for the moment," said another producer in North China. They just sold 5t of molybdenum powder 99.95%min at RMB640/kg (USD92/kg) late last week, but clients could still accept RMB650/kg (USD93.4/kg) just one week ago. In view of the rare inquiries in spot market, they expect that the mainstream prices of Chinese molybdenum powder 99.95%min would would move down by around RMB10/kg (USD1.4/kg) in the following week.
With an annual production capacity of 1,200t, they produced about 680t in 2022 and about 80t so far this year. They expect to produce about 40t this month, the same as last month. They have about 20t of stocks for the moment, unchanged MoM.
"As raw material prices moved down during the past week, our clients kept reluctant to purchase. In order to guarantee our market competitiveness, we could accept RMB640/kg (USD92/kg) EXW D/A 180 days now," said a producer in North China. They just sold 5t at this price level about two days ago. However, they refused to sell at any prices below RMB650/kg (USD93.4/kg) just one week ago. One of their major clients even only want to purchase at around RMB600/kg (USD86.2/kg). Considering that most buyers prefer to watch the market and inquiries in spot market stay rare now, they believe that the mainstream prices of Chinese molybdenum powder 99.95% could drop to around RMB630/kg (USD90.5/kg) in the coming week.
With an annual production capacity of 1,800t, the producer produced around 1,360t in 2022 and about 240t in the first two months of 2023. They expect to produce about 120t this month, almost the same as last month, holding around 20t of stocks for the moment, up by about 20t MoM.
"Most buyers prefer to watch the market and we could hardly close any deals at any prices above RMB640/kg (USD92/kg) EXW D/A 180 days for the moment," said another producer in North China. They just sold 5t of molybdenum powder 99.95%min at RMB640/kg (USD92/kg) late last week, but clients could still accept RMB650/kg (USD93.4/kg) just one week ago. In view of the rare inquiries in spot market, they expect that the mainstream prices of Chinese molybdenum powder 99.95%min would would move down by around RMB10/kg (USD1.4/kg) in the following week.
With an annual production capacity of 1,200t, they produced about 680t in 2022 and about 80t so far this year. They expect to produce about 40t this month, the same as last month. They have about 20t of stocks for the moment, unchanged MoM.
