Asian molybdenum market to keep slow in July
2007-07-18 11:57:16 【Print】
BEIJING (Asian Metal) 18 Jul 07 - Ferromolybdenum market remains slow and stable this week, with current prices around USD70/kg for ferromolybdenum 60% and USD31/kg for molybdenum oxide in East Asia. In India, ferromolybdenum market also stays slow, with prices in the range of INR1,850-1,950/kg(USD75.2-79.3/kg) for ferromolybdenum 60%. Participants believe ferromolybdenum market will keep slow in July.
A source who usually purchases ferromolybdenum from China and sells the material to other countries bought about 20t of ferromolybdenum 60% for USD70/kg from China a week ago, but has not made any deals since last week.
"The market generally moves in the range of USD69-71/kg in the past several days," said the source. "I think it will not change much by the end of July."
Meanwhile, in India, ferromolybdenum market remains slow and stable. A smelter, with an output of 20tpm of ferromolybdenum, sold a small batch of the material for INR1,950/kg this week, thinking the market will keep slow in July.
"The demand is stable in India, but there is a large quantity of ferromolybdenum 60% available in the market," said the producer. "So the market will keep slow in July."
Another ferromolybdenum smelter in India, with an output of 20tpm of ferromolybdenum 60%, purchased 10t of molybdenum oxide for USD31.8/lb from western suppliers last week, but has not made any deals this week. The source now offers INR1,900/kg(USD77.2/kg) for ferromolybdenum 60%, thinking molybdenum market will be bound to go up in the coming months.
