Chinese ammonium heptamolybdate prices decline
2023-03-09 08:29:52 [Print]
BEIJING (Asian Metal) 9 Mar 23 - As raw material prices moved down, Chinese ammonium heptamolybdate 54%min market mentality kept going negative during the past week. At present, the mainstream prices of Chinese ammonium heptamolybdate 54%min stand at RMB325,000-327,000/t (USD46.7-47/kg) EXW D/A 180 days, down by RMB20,000/t (USD2.9/kg) from late last week. Considering that most buyers prefer to watch the market and rare inquiries in spot market continues, insiders believe that the mainstream prices of Chinese ammonium heptamolybdate 54%min would decline further in the following week.
"Raw material prices kept dropping and we had to drop our ammonium heptamolybdate 54%min price to attract buyers' interest. For firm bids, we could accept RMB325,000/t (USD46.7/kg) EXW D/A 180 days now," said a producer in South China. They last sold 5t of ammonium heptamolybdate 54%min at RMB335,000/t (USD48.1/kg) this Tuesday. However, they refused to sell at any prices below RMB340,000/t (USD48.9/kg) just one week ago. Considering that most buyers prefer to watch the market and inquiries in spot market stay rare for the moment, they believe that the mainstream prices of Chinese ammonium heptamolybdate 54%min would drop to around RMB310,000/t (USD44.5/kg) in the following week.
With a production capacity of 1,200tpy, they produced about 480t in 2022 and nearly 80t in the first two months of 2023. The producer expects to produce around 40t in March, almost the same as last month. They have around 15t of stocks for the moment, up by around 5t MoM.
"Due to the dropping raw material prices, buyers refuse to build inventory for the moment. In order to avoid holding too much inventory, we dropped our price from RMB340,000/t (USD48.9/kg) EXW D/A 180 days one week ago to the latest RMB330,000/t (USD47.4/kg)," said a producer in North China. They last sold 5t of ammonium heptamolybdate 54%min at RMB333,000/t (USD47.9/kg) delivered D/A 180 days this Tuesday. They called their major clients this Wednesday, but buyers' target prices only stay at no more than RMB320,000/t (USD46/kg). In view of the declining raw material prices, they expect that the mainstream prices of Chinese ammonium heptamolybdate 54%min would drop to around RMB320,000/t (USD46/kg) in the coming week.
With an annual production capacity of 1200t, they produced about 500t in 2022 and about 80t so far this year. They expect to produce around 40t this month, almost the same as February, holding around 10t of regular stocks now, unchanged MoM.
"Raw material prices kept dropping and we had to drop our ammonium heptamolybdate 54%min price to attract buyers' interest. For firm bids, we could accept RMB325,000/t (USD46.7/kg) EXW D/A 180 days now," said a producer in South China. They last sold 5t of ammonium heptamolybdate 54%min at RMB335,000/t (USD48.1/kg) this Tuesday. However, they refused to sell at any prices below RMB340,000/t (USD48.9/kg) just one week ago. Considering that most buyers prefer to watch the market and inquiries in spot market stay rare for the moment, they believe that the mainstream prices of Chinese ammonium heptamolybdate 54%min would drop to around RMB310,000/t (USD44.5/kg) in the following week.
With a production capacity of 1,200tpy, they produced about 480t in 2022 and nearly 80t in the first two months of 2023. The producer expects to produce around 40t in March, almost the same as last month. They have around 15t of stocks for the moment, up by around 5t MoM.
"Due to the dropping raw material prices, buyers refuse to build inventory for the moment. In order to avoid holding too much inventory, we dropped our price from RMB340,000/t (USD48.9/kg) EXW D/A 180 days one week ago to the latest RMB330,000/t (USD47.4/kg)," said a producer in North China. They last sold 5t of ammonium heptamolybdate 54%min at RMB333,000/t (USD47.9/kg) delivered D/A 180 days this Tuesday. They called their major clients this Wednesday, but buyers' target prices only stay at no more than RMB320,000/t (USD46/kg). In view of the declining raw material prices, they expect that the mainstream prices of Chinese ammonium heptamolybdate 54%min would drop to around RMB320,000/t (USD46/kg) in the coming week.
With an annual production capacity of 1200t, they produced about 500t in 2022 and about 80t so far this year. They expect to produce around 40t this month, almost the same as February, holding around 10t of regular stocks now, unchanged MoM.
