Chinese molybdenum powder prices decline
2023-03-16 08:27:08 [Print]
BEIJING (Asian Metal) 16 Mar 23 - As raw material prices kept dropping and inquiries in spot market stayed rare, Chinese molybdenum powder market mentality kept negative during the past week. Currently, the mainstream prices of Chinese molybdenum powder 99.95%min stand at RMB600-603/kg (USD86.2-86.7/kg) EXW D/A 180 days, down by RMB17/kg (USD2.4/kg) from late last week. Considering that the negative market mentality continues, insiders believe that the mainstream prices of Chinese molybdenum powder 99.95%min would keep declining in the coming week.
"No buyer would like to add inventory for the moment and we could hardly see any inquires in spot market for the moment. In order to promote sales, we could accept RMB600/kg (USD86.2/kg) EXW D/A 180 days now," said a producer in South China. They just sold 10t of molybdenum powder 99.95%min at this price level to one of their regular clients this Tuesday. However, they refused to sell at any price below RMB625/kg (USD89.8/kg) just one week before. In view of the dropping raw material prices, they expect that the mainstream prices of Chinese molybdenum powder 99.95%min would go down further in the coming week.
With an annual production capacity of 1,200t, they produced about 490t in 2022 and about 80t in the first two months of 2022. They expect to produce about 40t this month, almost the same volume as last month, holding nearly 20t of regular stocks for the moment, unchanged MoM.
"Raw material prices kept dropping during the past week and our clients all prefer to watch the market now. For firm bids, we could accept RMB600/kg (USD86.2/kg) EXW D/A 180 days for moment," said another producer in South China. They last sold 10t of molybdenum powder 99.95%min at RMB620/kg (USD89.1/kg) late last week and didn't receive any inquiries so far this week. In view of the growing inventory pressure, they expect that the mainstream prices of Chinese molybdenum powder 99.95%min would keep declining in the following week.
With an annual production capacity of 1,800t, they produced around 390t in 2022 and about 60t so far this year. The producer expects to produce about 30t this month, almost the same as last month. They have around 20t of stocks for the moment, up by about 5t from late last month.
"No buyer would like to add inventory for the moment and we could hardly see any inquires in spot market for the moment. In order to promote sales, we could accept RMB600/kg (USD86.2/kg) EXW D/A 180 days now," said a producer in South China. They just sold 10t of molybdenum powder 99.95%min at this price level to one of their regular clients this Tuesday. However, they refused to sell at any price below RMB625/kg (USD89.8/kg) just one week before. In view of the dropping raw material prices, they expect that the mainstream prices of Chinese molybdenum powder 99.95%min would go down further in the coming week.
With an annual production capacity of 1,200t, they produced about 490t in 2022 and about 80t in the first two months of 2022. They expect to produce about 40t this month, almost the same volume as last month, holding nearly 20t of regular stocks for the moment, unchanged MoM.
"Raw material prices kept dropping during the past week and our clients all prefer to watch the market now. For firm bids, we could accept RMB600/kg (USD86.2/kg) EXW D/A 180 days for moment," said another producer in South China. They last sold 10t of molybdenum powder 99.95%min at RMB620/kg (USD89.1/kg) late last week and didn't receive any inquiries so far this week. In view of the growing inventory pressure, they expect that the mainstream prices of Chinese molybdenum powder 99.95%min would keep declining in the following week.
With an annual production capacity of 1,800t, they produced around 390t in 2022 and about 60t so far this year. The producer expects to produce about 30t this month, almost the same as last month. They have around 20t of stocks for the moment, up by about 5t from late last month.
