Chinese sodium molybdate prices decline
2023-03-09 08:29:48 [Print]
BEIJING (Asian Metal) 9 Mar 23 - Due to the dropping raw material prices, Chinese sodium molybdate consumers preferred to watch the market and the market mentality stayed negative during the past week. At present, the mainstream prices of Chinese sodium molybdate 99%min stand at RMB225,000-227,000/t (USD32.3-32.6/kg) EXW D/A 180 days, down by RMB8,000/t (USD1.1/kg) from late last week. Considering that inquiries in spot market stay rare and the soft mentality continues, insiders believe that the mainstream prices of Chinese sodium molybdate 99%min would stay weak in the coming week.
"No buyers would like to build inventory for the moment as raw material prices keep moving down. We quote RMB230,000/t (USD33.1/kg) EXW D/A 180 day now, but could accept a discount of RMB3,000/t (USD0.4/kg) for firm bids no less than 5t," said a producer in North China. They last sold 5t of sodium molybdate 99%min at RMB230,000/t (USD33.1/kg) late last week and didn't receive any inquiries after that. Considering that most buyers prefer to watch the market now, they expect that the mainstream prices of Chinese sodium molybdate 99%min would edge down in the coming week.
With an annual production capacity of 1,200t, they produced about 245t in 2022 and about 40t in the first two months of this year. They expect to produce around 20t this month, almost the same as last month, holding nearly 10t of stocks for the moment, unchanged MoM.
"As raw material prices moved down during the past week, no buyers would like to purchase at any prices above RMB225,000/t (USD32.3/kg) EXW D/P now. In order to guarantee our sales volume, we have to loosen our price accordingly," said a producer in South China. They last sold 5t of sodium molybdate 99%min at RMB230,000/t (USD33.1/kg) this Monday to one of their regular clients. In view of the rare inquiries in spot market, they expect that the mainstream prices of Chinese sodium molybdate 99%min would stay soft in the following week.
With an annual production capacity of 600t, they produced about 430t in 2022 and about 60t in the first two months of 2023. They expect to produce about 30t this month, almost the same as last month. They have around 20t of stocks now, up by nearly 5t MoM.
"No buyers would like to build inventory for the moment as raw material prices keep moving down. We quote RMB230,000/t (USD33.1/kg) EXW D/A 180 day now, but could accept a discount of RMB3,000/t (USD0.4/kg) for firm bids no less than 5t," said a producer in North China. They last sold 5t of sodium molybdate 99%min at RMB230,000/t (USD33.1/kg) late last week and didn't receive any inquiries after that. Considering that most buyers prefer to watch the market now, they expect that the mainstream prices of Chinese sodium molybdate 99%min would edge down in the coming week.
With an annual production capacity of 1,200t, they produced about 245t in 2022 and about 40t in the first two months of this year. They expect to produce around 20t this month, almost the same as last month, holding nearly 10t of stocks for the moment, unchanged MoM.
"As raw material prices moved down during the past week, no buyers would like to purchase at any prices above RMB225,000/t (USD32.3/kg) EXW D/P now. In order to guarantee our sales volume, we have to loosen our price accordingly," said a producer in South China. They last sold 5t of sodium molybdate 99%min at RMB230,000/t (USD33.1/kg) this Monday to one of their regular clients. In view of the rare inquiries in spot market, they expect that the mainstream prices of Chinese sodium molybdate 99%min would stay soft in the following week.
With an annual production capacity of 600t, they produced about 430t in 2022 and about 60t in the first two months of 2023. They expect to produce about 30t this month, almost the same as last month. They have around 20t of stocks now, up by nearly 5t MoM.
