Chinese ferromolybdenum prices edge down under pressure

BEIJING (Asian Metal) 4 Mar 16 - Recently, steel mills have continued to force down tender prices for ferromolybdenum, and mainstream prices for Chinese ferromolybdenum 60%min edged down under pressure to RMB59,000-61,000/t (USD15.Asian Metal Copyright However, more consumers begin to purchase this week and prices move down as well,” another producer based in Northeast China said.Asian Metal Copyright0-15.5/kg Mo) by cash payment this week, down by RMB1,000/t (USD0.Asian Metal Copyright1-15.Asian Metal Copyright25kg Mo) from last week.Asian Metal Copyright “We lowered prices by RMB3,000t USD0.Asian Metal Copyright As market transactions have been sporadic after the Chinese New Year holiday and some producers still hold abundant stocks coupled with tender prices from steel mills declining successively, it is expected that mainstream prices for ferromolybdenum are likely to slip further.

A ferromolybdenum producer based in Northeast China stated that they lowered prices for ferromolybdenum 60%min by RMB1,000/t (USD0.25/kg Mo) to USD59,500-60,000/t (USD15.Asian Metal Copyright As the market has seen limited transactions in the past weeks, prices are firm.Asian Metal Copyright1-15.3/kg Mo) by cash payment this week, and concluded 50-60t.Asian Metal Copyright They have sold about 60t so far this week.Asian Metal Copyright “Prices for ferromolybdenum have dropped recently and customers are more active this week than before,” the source said.Asian Metal Copyright “Prices for ferromolybdenum have dropped recently and customers are more active this week than before,” the source said.Asian Metal Copyright He continued that prices for the domestic ferromolybdenum are still fluctuating with consumers remaining cautious about purchasing, so it is anticipated that prices for ferromolybdenum will persist in sliding.

The source with an annual capacity of 6,000t of ferromolybdenum produced around 250t in February, unchanged from January. Currently, they hold roughly 250t of ferromolybdenum in inventory.

“We lowered prices by RMB3,000/t (USD0.76/kg Mo) this week to RMB59,000/t (USD15/kg Mo) by cash payment ex works.Asian Metal Copyright He continued that prices for the domestic ferromolybdenum are still fluctuating with consumers remaining cautious about purchasing, so it is anticipated that prices for ferromolybdenum will persist in sliding.Asian Metal Copyright As the market has seen limited transactions in the past weeks, prices are firm.Asian Metal Copyright As the market has seen limited transactions in the past weeks, prices are firm.Asian Metal Copyright However, more consumers begin to purchase this week and prices move down as well,” another producer based in Northeast China said.Asian Metal Copyright “Prices for ferromolybdenum have dropped recently and customers are more active this week than before,” the source said.Asian Metal Copyright They have sold about 60t so far this week.Asian Metal Copyright He continued that prices for the domestic ferromolybdenum are still fluctuating with consumers remaining cautious about purchasing, so it is anticipated that prices for ferromolybdenum will persist in sliding.Asian Metal Copyright He thought this batch of invitation for tenders has not come to an end, and large-scale steel mills will persist in attempting to force down prices.

The source with an annual capacity of 4,200t of ferromolybdenum keeps the monthly output stable at a level of 150-200t, holding about 70t of ferromolybdenum in inventory for the time being.
.Asian Metal Copyright As market transactions have been sporadic after the Chinese New Year holiday and some producers still hold abundant stocks coupled with tender prices from steel mills declining successively, it is expected that mainstream prices for ferromolybdenum are likely to slip further.Asian Metal Copyright