Chinese ammonium heptamolybdate prices down
2023-03-22 07:50:54 [Print]
BEIJING (Asian Metal) 22 Mar 23 - In view of the dropping raw material prices, Chinese ammonium heptamolybdate 54%min market mentality stayed negative during the past week. Currently, the mainstream prices of Chinese ammonium heptamolybdate 54%min stand at RMB263,000-265,000/t (USD37.8-38.7/kg) EXW D/A 180 days, down by RMB20,000/t (USD2.9/kg) from late last week. Considering that the rare inquiries in spot market continues, insiders predict that the mainstream prices of Chinese ammonium heptamolybdate 54%min would moving down in the coming week.
"Due to the dropping raw material prices, we have to drop our ammonium heptamolybdate 54%min price accordingly to promote sales. For firm bids, we could accept RMB263,000/t (USD37.8/kg) EXW D/A 180 days for the moment," said a producer in North China. They just sold 5t of ammonium heptamolybdate 54%min at this price level this Monday. However, they refused to sell at any prices below RMB280,000/t (USD40.2/kg) just one week ago. Considering that few buyers would like to add inventory and they could hardly see inquiries in spot market now, they expect that the mainstream prices of Chinese ammonium heptamolybdate 54%min would drop below RMB250,000/t (USD35.9/kg) in the following week.
With an annual production capacity of 1,000t, the producer produced about 250t in 2022 and about 40t so far this year. They expect to produce around 20t this month, the same as last month. They have about 5t of regular stocks for the moment, unchanged MoM.
"As raw material prices kept slumping during the past week, our clients all prefer to watch the market now. In order reduce our increasing inventory pressure, we could accept RMB265,000/t (USD38.1/kg) EXW D/A 180 days now," said another producer in North China. They last sold 10t of ammonium heptamolybdate 54%min at RMB278,000/t (USD40/kg) middle last week. In view of the declining raw material prices, they predict that the mainstream prices of Chinese ammonium heptamolybdate 54%min would drop by around RMB15,000/t (USD2.2/kg) in the coming week.
With an annual production capacity of 1,440t, they only produced about 150t in 2022 due to COVID control and about 40t in the first two months of this year. They expect to produce about 20t this month, the same as last month, holding around 15t of stocks now, up by about 5t MoM.
"Due to the dropping raw material prices, we have to drop our ammonium heptamolybdate 54%min price accordingly to promote sales. For firm bids, we could accept RMB263,000/t (USD37.8/kg) EXW D/A 180 days for the moment," said a producer in North China. They just sold 5t of ammonium heptamolybdate 54%min at this price level this Monday. However, they refused to sell at any prices below RMB280,000/t (USD40.2/kg) just one week ago. Considering that few buyers would like to add inventory and they could hardly see inquiries in spot market now, they expect that the mainstream prices of Chinese ammonium heptamolybdate 54%min would drop below RMB250,000/t (USD35.9/kg) in the following week.
With an annual production capacity of 1,000t, the producer produced about 250t in 2022 and about 40t so far this year. They expect to produce around 20t this month, the same as last month. They have about 5t of regular stocks for the moment, unchanged MoM.
"As raw material prices kept slumping during the past week, our clients all prefer to watch the market now. In order reduce our increasing inventory pressure, we could accept RMB265,000/t (USD38.1/kg) EXW D/A 180 days now," said another producer in North China. They last sold 10t of ammonium heptamolybdate 54%min at RMB278,000/t (USD40/kg) middle last week. In view of the declining raw material prices, they predict that the mainstream prices of Chinese ammonium heptamolybdate 54%min would drop by around RMB15,000/t (USD2.2/kg) in the coming week.
With an annual production capacity of 1,440t, they only produced about 150t in 2022 due to COVID control and about 40t in the first two months of this year. They expect to produce about 20t this month, the same as last month, holding around 15t of stocks now, up by about 5t MoM.
