South Korean ferromolybdenum market quiet with stable prices
2014-09-01 09:21:15 [Print]
BEIJING (Asian Metal) 1 Sep 14 - As buying activity in South Korean ferromolybdenum 60%min market remains low, most deals are concluding at below USD32.0/kg Mo d
An official of a trading company reported offering Chinese-origin ferromolybdenum 60%min to India at USD30.8/kg Mo CIF Indian destination ports but would-be buyers wanted to pay USD30.5/kg Mo CIF basis, which was rejected . “There are no deals and buying activity is generally quiet,” remarked the source.
An official of a converter claimed to have sold parcels of Korean-origin ferromolybdenum 60%min late last week at USD31.5-31.8/kg Mo d . d . p . and described the market as stable with no clear direction . The source argued that although more demand is expected this month, it might have little impact on prices as many toll-traders are believed to be sitting on large inventory for positioning.
And for molybdenum oxide, although mainstream prices are up to USD13.25/lb CIF Busan ports, a trader confirmed most deals at below USD13.15/lb ex warehouse . “We sold a container of Western-origin late last week at USD13.05/lb and another 5t-lot at USD13.10/lb in Busan but another offer at USD13.15/lb was not booked,” disclosed the trader.
For potential deals to foreign market, a container-load of molybdenum oxide of Western-origin was also offered to India at USD13.25/lb CIF Indian ports but the bid at USD13.1/lb CIF basis was rejected as being too low, more so the payment term was to be up to 45-days .
. d . p . and participants think there might not be any improvement now as end-users are believed to have postponed new orders until late next week due to the coming National holidays.An official of a trading company reported offering Chinese-origin ferromolybdenum 60%min to India at USD30.8/kg Mo CIF Indian destination ports but would-be buyers wanted to pay USD30.5/kg Mo CIF basis, which was rejected . “There are no deals and buying activity is generally quiet,” remarked the source.
An official of a converter claimed to have sold parcels of Korean-origin ferromolybdenum 60%min late last week at USD31.5-31.8/kg Mo d . d . p . and described the market as stable with no clear direction . The source argued that although more demand is expected this month, it might have little impact on prices as many toll-traders are believed to be sitting on large inventory for positioning.
And for molybdenum oxide, although mainstream prices are up to USD13.25/lb CIF Busan ports, a trader confirmed most deals at below USD13.15/lb ex warehouse . “We sold a container of Western-origin late last week at USD13.05/lb and another 5t-lot at USD13.10/lb in Busan but another offer at USD13.15/lb was not booked,” disclosed the trader.
For potential deals to foreign market, a container-load of molybdenum oxide of Western-origin was also offered to India at USD13.25/lb CIF Indian ports but the bid at USD13.1/lb CIF basis was rejected as being too low, more so the payment term was to be up to 45-days .