Chinese molybdenum powder prices move down
2023-04-20 08:23:14 [Print]
BEIJING (Asian Metal) 20 Apr 23 - In view of the dropping raw material prices, Chinese molybdenum powder market mentality maintained weak during the past week. Currently, the mainstream prices of Chinese molybdenum powder 99.95%min stand at RMB340-343/kg (USD49.8-50.3/kg) EXW D/A 180 days, down by about RMB25/kg (USD3.7/kg) from late last week. Considering that most buyers prefer to watch the market and the weak mentality in spot market continues, insiders believe that the mainstream prices of Chinese vanadium pentoxide powder 99.95%min would decline further in the coming week.
"Due to the dropping raw material prices, our regular clients all prefer to watch the market now. In order to guarantee our monthly sales volume, we could accept RMB343/kg (USD50.3/kg) EXW D/A 180 days now," said a producer in North China. They last sold 10t of vanadium pentoxide powder 99.95%min at RMB355/kg (USD52/kg) early last week and didn't receive any new inquiries so far. In view of the negative market mentality, they predict that the mainstream prices of Chinese molybdenum powder 99.95%min would drop to around RMB300/kg (USD44/kg) by the end of April.
With an annual production capacity of 1,800t, the producer produced around 1,360t in 2022 and about 360t so far this year. They expect to produce about 100t this month, down by around 20t from last month due to lack of orders, holding nearly 30t of stocks now, up by about 10t MoM.
"Due to the dropping raw material prices, buyers only want to purchase molybdenum powder 99.95%min at prices no more than RMB340/kg (USD49.8/kg) EXW D/A 180 days now," said a producer in South China. They just sold 10t of molybdenum power 99.95%min at RMB350/kg (USD51.3/kg) this Tuesday. However, they refused to sell at any price below RMB370/kg (USD54.2/kg) just one week ago. Considering that most buyers prefer to watch the market and the rare inquiries in spot market continues, they expect that the mainstream prices of Chinese molybdenum powder 99.95%min would drop by about RMB30/kg (USD4.4/kg) in the coming week.
With an annual production capacity of 1,200t, they produced about 490t in 2022 and about 110t in the first quarter of 2023. They expect to produce about 30t this month, almost the same volume as March. They have around 20t of inventories for the moment, unchanged MoM.
"Due to the dropping raw material prices, our regular clients all prefer to watch the market now. In order to guarantee our monthly sales volume, we could accept RMB343/kg (USD50.3/kg) EXW D/A 180 days now," said a producer in North China. They last sold 10t of vanadium pentoxide powder 99.95%min at RMB355/kg (USD52/kg) early last week and didn't receive any new inquiries so far. In view of the negative market mentality, they predict that the mainstream prices of Chinese molybdenum powder 99.95%min would drop to around RMB300/kg (USD44/kg) by the end of April.
With an annual production capacity of 1,800t, the producer produced around 1,360t in 2022 and about 360t so far this year. They expect to produce about 100t this month, down by around 20t from last month due to lack of orders, holding nearly 30t of stocks now, up by about 10t MoM.
"Due to the dropping raw material prices, buyers only want to purchase molybdenum powder 99.95%min at prices no more than RMB340/kg (USD49.8/kg) EXW D/A 180 days now," said a producer in South China. They just sold 10t of molybdenum power 99.95%min at RMB350/kg (USD51.3/kg) this Tuesday. However, they refused to sell at any price below RMB370/kg (USD54.2/kg) just one week ago. Considering that most buyers prefer to watch the market and the rare inquiries in spot market continues, they expect that the mainstream prices of Chinese molybdenum powder 99.95%min would drop by about RMB30/kg (USD4.4/kg) in the coming week.
With an annual production capacity of 1,200t, they produced about 490t in 2022 and about 110t in the first quarter of 2023. They expect to produce about 30t this month, almost the same volume as March. They have around 20t of inventories for the moment, unchanged MoM.
