Chinese ammonium tetramolybdate market sees rare inquiries
2023-03-08 08:29:46 [Print]
BEIJING (Asian Metal) 8 Mar 23 - As raw material prices dropped, Chinese ammonium tetramolybdate market inquiries stayed rare and the market mentality kept soft during the past week. Currently, the mainstream prices of Chinese ammonium tetramolybdate 56%min stand at RMB335,000-337,000/t (USD48.1-48.4/kg) EXW D/A 180 days, down by RMB5,000/t (USD0.7/kg) from late last week. Considering that most buyers prefer to watch the market and no signs show that demand could recovery, insiders believe that the mainstream prices of Chinese ammonium tetramolybdate 56%min would stay weak in the coming week.
"Buyers all preferred to watch the market and we didn't receive any inquiries during the past week. In order to promote sales, we could accept RMB335,000/t (USD48.1/kg) EXW D/A 180 days now," said a producer in South China. They could receive at least two inquiries a week before March. They just sold 5t of ammonium tetramolybdate 56%min to one of their regular clients at this price level this Monday. However, they refused to sell any prices below RMB340,000/t (USD48.9/kg) just one week ago. Considering that most regular clients prefer to watch the market for the moment, they expect that the mainstream prices of Chinese ammonium tetramolybdate 56%min would drop to around RMB330,000/t (USD47.4/kg) in the coming week.
With an annual production capacity of 720t, the producer produced about 240t in 2022 and about 40t so far this year. They expect to produce about 20t this month, the same as last month, holding around 15t of stocks now, unchanged MoM.
"No buyers would like to build inventory for the moment, and even no buyers sent inquiries to me during the past week. However, we could receive at least two calls one week before March," said a producer in North China. In order to promote sales, they could accept RMB337,000/t (USD48.4/kg) delivered D/A 180 days now. They last sold 5t of ammonium tetramolybdate 56%min at RMB345,000/t (USD49.6/kg) about 10 days ago to one regular clients. Considering that inquiries in spot market stay rare and they could hardly guarantee their monthly sales volume, they believe that the mainstream prices of Chinese ammonium tetramolybdate 56%min would keep soft in the following week.
With an annual production capacity of 1,440t, they only produced about 150t in 2022 due to COVID-19 control and about 40t so far this year. They expect to produce about 20t this month, the same as last month. They have around 10t of inventories for the moment, unchanged MoM.
"Buyers all preferred to watch the market and we didn't receive any inquiries during the past week. In order to promote sales, we could accept RMB335,000/t (USD48.1/kg) EXW D/A 180 days now," said a producer in South China. They could receive at least two inquiries a week before March. They just sold 5t of ammonium tetramolybdate 56%min to one of their regular clients at this price level this Monday. However, they refused to sell any prices below RMB340,000/t (USD48.9/kg) just one week ago. Considering that most regular clients prefer to watch the market for the moment, they expect that the mainstream prices of Chinese ammonium tetramolybdate 56%min would drop to around RMB330,000/t (USD47.4/kg) in the coming week.
With an annual production capacity of 720t, the producer produced about 240t in 2022 and about 40t so far this year. They expect to produce about 20t this month, the same as last month, holding around 15t of stocks now, unchanged MoM.
"No buyers would like to build inventory for the moment, and even no buyers sent inquiries to me during the past week. However, we could receive at least two calls one week before March," said a producer in North China. In order to promote sales, they could accept RMB337,000/t (USD48.4/kg) delivered D/A 180 days now. They last sold 5t of ammonium tetramolybdate 56%min at RMB345,000/t (USD49.6/kg) about 10 days ago to one regular clients. Considering that inquiries in spot market stay rare and they could hardly guarantee their monthly sales volume, they believe that the mainstream prices of Chinese ammonium tetramolybdate 56%min would keep soft in the following week.
With an annual production capacity of 1,440t, they only produced about 150t in 2022 due to COVID-19 control and about 40t so far this year. They expect to produce about 20t this month, the same as last month. They have around 10t of inventories for the moment, unchanged MoM.
