Japanese ferromolybdenum market seeing marginal price increase
2014-10-15 11:20:57 [Print]
BEIJING (Asian Metal) 15 Oct 14 - Having stopped falling on Monday when participants were observing a National Holiday, Japanese ferromolybdenum 60%min market firmed Tuesday with converters confirming material delivery prices at USD24.2-24.5/kg Mo d.d.p.; thus representing a marginal price increase of about USD0.3-0.4/kg Mo d.d.p. since last Friday.
An official of a converter described domestic demand for ferromolybdenum 60%min as being stable and that the price rise would not affect scheduled delivery. “Demand is stable and predictable but production and sales costs are not,” remarked the source and confirmed operational activity on schedule to producing 200t this month.
Another converter corroborated the market trend and opined the price could begin to rise now as more end-users return for purchases in international markets, which would have positive price effect on the domestic market. “The market is a little firmer about USD0.25/kg Mo d.d.p.,” said the source confirming scheduled delivery at USD24.25/kg Mo d.d.p.
Molybdenum oxide price was confirmed Tuesday at USD9.25-9.45/lb and converters believe the price will rise further in line with international market trend and, therefore, cargoes arriving Japanese ports this week could have different delivery prices depending on what weighted average price formula is used for such cargoes.
And on the future trend, converters expect to increase output for November and whilst one expects 30t increase from this month’s projected output of 180t, another is aiming for 250t for November but these increases are to come from special orders.
An official of a converter described domestic demand for ferromolybdenum 60%min as being stable and that the price rise would not affect scheduled delivery. “Demand is stable and predictable but production and sales costs are not,” remarked the source and confirmed operational activity on schedule to producing 200t this month.
Another converter corroborated the market trend and opined the price could begin to rise now as more end-users return for purchases in international markets, which would have positive price effect on the domestic market. “The market is a little firmer about USD0.25/kg Mo d.d.p.,” said the source confirming scheduled delivery at USD24.25/kg Mo d.d.p.
Molybdenum oxide price was confirmed Tuesday at USD9.25-9.45/lb and converters believe the price will rise further in line with international market trend and, therefore, cargoes arriving Japanese ports this week could have different delivery prices depending on what weighted average price formula is used for such cargoes.
And on the future trend, converters expect to increase output for November and whilst one expects 30t increase from this month’s projected output of 180t, another is aiming for 250t for November but these increases are to come from special orders.
Ferro-molybdenum 60%min EXW China
Unit:RMB/mt
China ferromolybdenum producers' inventory statistics by province by month
Unit: mt
