European ferromolybdenum prices keep declining
2023-03-17 07:49:27 [Print]
BEIJING (Asian Metal) 17 Mar 23 - In view of the dropping prices from Asian suppliers and weak demand from terminal users, European ferromolybdenum 65%min market mentality kept negative during the past week. At present, the mainstream prices of European ferromolybdenum 65%min stand at USD72-72.5/kg Mo in warehouse Rotterdam, down by USD10/kg Mo from late last week. Considering that the negative market mentality continues, insiders predict that the mainstream prices of European ferromolybdenum 65%min would drop further in the coming week.
"No buyers would like to add inventory for the moment, and suppliers from South Korea kept dropping their prices, so we had to drop our price accordingly to guarantee our market competitiveness. For firm bids, we could accept USD72/kg Mo in warehouse Rotterdam now," said a trader in West Europe. They last sold 10t of ferromolybdenum 65%min at USD79.5/kg Mo about one week ago. Considering that most buyers prefer to watch the market and inquiries in spot market stay rare now, they expect that the mainstream prices of European ferromolybdenum 65%min would drop to around USD67/kg Mo in the following week.
With a regular trading volume of 100tpm, they expect to sell about 80t this month, down by about 20t from February due to lack of inquiries. In order to avoid the price drop risk, they keep no inventory now, down by about 20t MoM.
"Asian suppliers dropped their price to around USD70/kg Mo CIF Rotterdam warehouse, which brought huge dropping pressure on me and we had to drop our price accordingly. For firm bids and immediate shipment, we could accept USD72.5/kg Mo in warehouse Rotterdam now," said a trader in East Europe. They just sold 10t of ferromolybdenum 65%min at this level this Wednesday. However, they refused to sell at any prices below USD80/kg Mo just one week ago. Considering that few buyers would like to add inventory and the rare inquiries in spot market continues, they predict that the mainstream prices of European ferromolybdenum 65%min would stay below USD70/kg Mo in the coming week.
With a regular trading volume of 40tpm, they expect to sell about 40t this month, almost the same as February. They have no stock for the moment, unchanged MoM.
"No buyers would like to add inventory for the moment, and suppliers from South Korea kept dropping their prices, so we had to drop our price accordingly to guarantee our market competitiveness. For firm bids, we could accept USD72/kg Mo in warehouse Rotterdam now," said a trader in West Europe. They last sold 10t of ferromolybdenum 65%min at USD79.5/kg Mo about one week ago. Considering that most buyers prefer to watch the market and inquiries in spot market stay rare now, they expect that the mainstream prices of European ferromolybdenum 65%min would drop to around USD67/kg Mo in the following week.
With a regular trading volume of 100tpm, they expect to sell about 80t this month, down by about 20t from February due to lack of inquiries. In order to avoid the price drop risk, they keep no inventory now, down by about 20t MoM.
"Asian suppliers dropped their price to around USD70/kg Mo CIF Rotterdam warehouse, which brought huge dropping pressure on me and we had to drop our price accordingly. For firm bids and immediate shipment, we could accept USD72.5/kg Mo in warehouse Rotterdam now," said a trader in East Europe. They just sold 10t of ferromolybdenum 65%min at this level this Wednesday. However, they refused to sell at any prices below USD80/kg Mo just one week ago. Considering that few buyers would like to add inventory and the rare inquiries in spot market continues, they predict that the mainstream prices of European ferromolybdenum 65%min would stay below USD70/kg Mo in the coming week.
With a regular trading volume of 40tpm, they expect to sell about 40t this month, almost the same as February. They have no stock for the moment, unchanged MoM.
