European ferromolybdenum prices down
2023-03-10 08:30:46 [Print]
BEIJING (Asian Metal) 10 Mar 23 - Due to the soft demand from terminal users and dropping prices of Asian suppliers, European ferromolybdenum 65%min market mentality turned negative significantly during the past week. Currently, the mainstream prices of European ferromolybdenum 65%min stand at USD84-84.5/kg Mo in warehouse Rotterdam, down by USD5.5/kg Mo from late last week. Considering that most buyers prefer to watch the market and inquiries in spot market stay rare now, insiders believe that the mainstream prices of European ferromolybdenum 65%min would move down further in the coming week.
"Buyers prefer to watch the market now and we even could hardly close any deals at prices above USD85/kg Mo in warehouse Rotterdam now," said a trader in West Europe. They last sold 10t of ferromolybdenum 65%min at USD90/kg Mo about one week ago. In order to promote sales, they could accept USD84.5/kg Mo now. In view of the rare inquiries in spot market, they believe that the mainstream prices of European ferromolybdenum 65%min would drop below USD80/kg Mo in the coming week.
With a regular trading volume of 60tpm, they expect to sell about 40t this month according to the feedback of their regular clients, down by about 20t from February, holding around 10t of stocks now, up by about 10t MoM.
"Prices we inquired from Asian suppliers dropped to the latest around USD75/kg Mo, which would surely bring negative influence on European market. In order to promote sales, we could accept USD84/kg Mo in warehouse Rotterdam now," said a trader in Middle Europe. They just sold 10t of ferromolybdenum 65%min at USD87/kg Mo this Monday and 5t at RMB90/kg Mo late last week. Considering that most buyers prefer to watch the market for the moment and increasing price gap between Europe and Asia, they expect that the mainstream prices of European ferromolybdenum 65%min would drop below by at least USD4/kg Mo in the following week.
With a regular back to back trading volume of 40tpm, they expect to sell about 40t this month, the same as last December. They have no stock for the moment, unchanged MoM.
"Buyers prefer to watch the market now and we even could hardly close any deals at prices above USD85/kg Mo in warehouse Rotterdam now," said a trader in West Europe. They last sold 10t of ferromolybdenum 65%min at USD90/kg Mo about one week ago. In order to promote sales, they could accept USD84.5/kg Mo now. In view of the rare inquiries in spot market, they believe that the mainstream prices of European ferromolybdenum 65%min would drop below USD80/kg Mo in the coming week.
With a regular trading volume of 60tpm, they expect to sell about 40t this month according to the feedback of their regular clients, down by about 20t from February, holding around 10t of stocks now, up by about 10t MoM.
"Prices we inquired from Asian suppliers dropped to the latest around USD75/kg Mo, which would surely bring negative influence on European market. In order to promote sales, we could accept USD84/kg Mo in warehouse Rotterdam now," said a trader in Middle Europe. They just sold 10t of ferromolybdenum 65%min at USD87/kg Mo this Monday and 5t at RMB90/kg Mo late last week. Considering that most buyers prefer to watch the market for the moment and increasing price gap between Europe and Asia, they expect that the mainstream prices of European ferromolybdenum 65%min would drop below by at least USD4/kg Mo in the following week.
With a regular back to back trading volume of 40tpm, they expect to sell about 40t this month, the same as last December. They have no stock for the moment, unchanged MoM.
