Chinese sodium molybdate prices weak
2023-04-24 08:23:47 [Print]
BEIJING (Asian Metal) 24 Apr 23 - Though raw material suppliers tried hard to increase raw material prices during the past week, in view of the rare inquiries in spot market, Chinese sodium molybdate market mentality still maintained soft. Currently, the mainstream prices of Chinese sodium molybdate 99%min stand at RMB128,000-130,000/t (USD18.8-19/kg) EXW D/A 180 days, unchanged from early last week. Considering that most buyers prefer to to watch the market, insiders believe that the mainstream prices of Chinese sodium molybdate 99%min would stay weak in the coming week.
"Our regular clients all prefer to watch the market for the moment and we could hardly increase our sales volume. For firm bids, we could accept RMB130,000/t (USD19/kg) EXW D/A 180 days now," said a producer in South China. They last sold 5t of sodium molybdate 99%min at RMB130,000/t (USD19/kg) about one week ago and didn't receive any new inquiries so far. According to the latest raw material prices they inquired, they should increase their sodium molybdate 99%min price to RMB145,000/t (USD21.2/kg). However, considering that most buyers prefer to watch the market, they believe that the mainstream prices of Chinese sodium molybdate 99%min would stay soft in the coming week.
With an annual production capacity of 720t, they produced about 235t in 2022 and about 60t in the first quarter in 2023. They expect to produce about 20t in April, the same as last month, holding around 5t of regular stocks for the moment, unchanged MoM.
"No any buyers contacted me during the past week and we could hardly increase our price. However, in view of the uncertain raw material prices, we refuse to drop our price to promote sales. For firm bids, we ask at least RMB130,000/t (USD19/kg) EXW D/A 180 days," said another producer in South China. They last sold 5t at this price level early last week. Considering that they could see little inquiries for the moment, they predict that the mainstream prices of Chinese sodium molybdate 99%min keep soft in the following week.
With an annual production capacity of 480t, the producer produced about 250t in 2022 and about 50t in the first three months of 2023. They expect to produce around 10t this month, down by about 5t from last month due to lack of orders. They have about 15t of stocks now, down by about 5t MoM.
"Our regular clients all prefer to watch the market for the moment and we could hardly increase our sales volume. For firm bids, we could accept RMB130,000/t (USD19/kg) EXW D/A 180 days now," said a producer in South China. They last sold 5t of sodium molybdate 99%min at RMB130,000/t (USD19/kg) about one week ago and didn't receive any new inquiries so far. According to the latest raw material prices they inquired, they should increase their sodium molybdate 99%min price to RMB145,000/t (USD21.2/kg). However, considering that most buyers prefer to watch the market, they believe that the mainstream prices of Chinese sodium molybdate 99%min would stay soft in the coming week.
With an annual production capacity of 720t, they produced about 235t in 2022 and about 60t in the first quarter in 2023. They expect to produce about 20t in April, the same as last month, holding around 5t of regular stocks for the moment, unchanged MoM.
"No any buyers contacted me during the past week and we could hardly increase our price. However, in view of the uncertain raw material prices, we refuse to drop our price to promote sales. For firm bids, we ask at least RMB130,000/t (USD19/kg) EXW D/A 180 days," said another producer in South China. They last sold 5t at this price level early last week. Considering that they could see little inquiries for the moment, they predict that the mainstream prices of Chinese sodium molybdate 99%min keep soft in the following week.
With an annual production capacity of 480t, the producer produced about 250t in 2022 and about 50t in the first three months of 2023. They expect to produce around 10t this month, down by about 5t from last month due to lack of orders. They have about 15t of stocks now, down by about 5t MoM.
