European ferromolybdenum prices keep going down
2023-04-07 07:45:26 [Print]
BEIJING (Asian Metal) 7 Apr 23 - As the soft demand from terminal users continues, European ferromolybdenum 65%min market mentality keeps negative so far this month. At present, the mainstream prices of European ferromolybdenum 65%min stand at USD51.5-52/kg Mo in warehouse Rotterdam, down by USD4.5/kg Mo from late last week. Considering that inquiries in spot market stay rare and no signs show that the demand could increase, insiders believe that the mainstream prices of European ferromolybdenum 65%min would drop keep moving down in the coming week.
"Clients all prefer to watch the market for the moment and we have to drop our price to promote sales. For firm bids, we could accept USD52/kg Mo in warehouse Rotterdam now. They last sold 10t of ferromolybdenum 60%min at USD55.5/kg Mo late last week and didn't receive any inquiries after that. Considering that buyers could easily find enough goods in spot market now, they predict that the mainstream prices of European ferromolybdenum 65%min would drop to around USD50/kg Mo in the coming week.
With a regular trading volume of 60tpm, they sold around 700t in 2022 and about 180t so far this year. They expect to sell about 40t this month according to the feedback of their regular clients, down by about 20t from last month. They have about 20t of inventories now, unchanged from late last month.
"Our regular clients all prefer to consume their inventory for the moment and we could see little inquiries now. In order to guarantee our market competitiveness, we could accept USD51/kg Mo in warehouse Rotterdam for the moment," said a trader in Middle Europe. They last sold 10t of ferromolybdenum 65%min USD56.5/kg Mo about 10 days ago. Considering that the rare inquiries in spot market continues, they expect that the mainstream prices of European ferromolybdenum 65%min would below USD50/kg Mo in the following week.
With a monthly trading volume of 40t, they sold about 480t in 2022 and about 100t so far this year. They expect to sell about 40t in April, the same as last month, holding about 20t of regular stocks for the moment, unchanged MoM.
"Clients all prefer to watch the market for the moment and we have to drop our price to promote sales. For firm bids, we could accept USD52/kg Mo in warehouse Rotterdam now. They last sold 10t of ferromolybdenum 60%min at USD55.5/kg Mo late last week and didn't receive any inquiries after that. Considering that buyers could easily find enough goods in spot market now, they predict that the mainstream prices of European ferromolybdenum 65%min would drop to around USD50/kg Mo in the coming week.
With a regular trading volume of 60tpm, they sold around 700t in 2022 and about 180t so far this year. They expect to sell about 40t this month according to the feedback of their regular clients, down by about 20t from last month. They have about 20t of inventories now, unchanged from late last month.
"Our regular clients all prefer to consume their inventory for the moment and we could see little inquiries now. In order to guarantee our market competitiveness, we could accept USD51/kg Mo in warehouse Rotterdam for the moment," said a trader in Middle Europe. They last sold 10t of ferromolybdenum 65%min USD56.5/kg Mo about 10 days ago. Considering that the rare inquiries in spot market continues, they expect that the mainstream prices of European ferromolybdenum 65%min would below USD50/kg Mo in the following week.
With a monthly trading volume of 40t, they sold about 480t in 2022 and about 100t so far this year. They expect to sell about 40t in April, the same as last month, holding about 20t of regular stocks for the moment, unchanged MoM.
