Softened ferro-molybdenum seeing light
2005-02-03 09:26:45 【Print】
BEIJING(Asian Metal) 3-Feb-05 The tightened raw material supply has finally influenced the softened molybdenum market, as some participants reported that suppliers increased the quotations slightly these days. While, the transaction remained thin for the moment.
"Quotations from some smelters went up a little bit, and most of them are in the range of around $71-72/kg Mo FOB."said a trader. According to him, the offers it received early this week stood at just about $70/kg Mo FOB.
Several domestic traders are talking about low prices, however, smelters argued that ferro-molybdenum is very likely to rebound after the Spring Festival.
A major converter in Huludao disclosed to Asian Metal today:"The contracted price with a Japanese customer reached $73/kg CIF recently, and we tend to quote $74/kg at the moment." The spokesperson admitted that it might not easy to achieve the price, under the current circumstances, but market is seen to be active again late this February or early March.
"We have only about 100mt ferro-molybdenum exported last month."the source explained,"and I think there would not be many from other converters. So, buyers will come back to the market again and support the prices by resumed the demand."
Trader sources agreed with the estimation as well. "I think the figure of the export last month would be very interesting."said a trader, "I think ferro-molybdenum prices might have to pick up again in the following weeks."
"Quotations from some smelters went up a little bit, and most of them are in the range of around $71-72/kg Mo FOB."said a trader. According to him, the offers it received early this week stood at just about $70/kg Mo FOB.
Several domestic traders are talking about low prices, however, smelters argued that ferro-molybdenum is very likely to rebound after the Spring Festival.
A major converter in Huludao disclosed to Asian Metal today:"The contracted price with a Japanese customer reached $73/kg CIF recently, and we tend to quote $74/kg at the moment." The spokesperson admitted that it might not easy to achieve the price, under the current circumstances, but market is seen to be active again late this February or early March.
"We have only about 100mt ferro-molybdenum exported last month."the source explained,"and I think there would not be many from other converters. So, buyers will come back to the market again and support the prices by resumed the demand."
Trader sources agreed with the estimation as well. "I think the figure of the export last month would be very interesting."said a trader, "I think ferro-molybdenum prices might have to pick up again in the following weeks."
