Chinese molybdenum powder prices down
2023-03-22 07:50:57 [Print]
BEIJING (Asian Metal) 22 Mar 23 - In view of the slumping raw material prices, Chinese molybdenum powder buyers preferred to watch the market and the market mentality stayed soft during the past week. At present, the mainstream prices of Chinese molybdenum powder 99.95%min stand at RMB550-553/kg (USD79-79.5/kg) EXW D/A 180 days, down by RMB30/kg (USD4.3/kg) from late last week. Considering that the rare inquiries in spot market continues, insiders believe that the mainstream prices of Chinese molybdenum powder 99.95%min would drop further in the coming week.
"Few buyers would like to make purchase for the moment and we could hardly guarantee our monthly sales volume. In order to promote sales, we could accept RMB550/kg (USD79/kg) EXW D/A 180 days for the moment," said a producer in North China. They just sold 10t of molybdenum powder 99.95%min at this price level this Monday, but refused to sell at any prices below RMB580/kg (USD83.4/kg) just one week ago. Considering that raw material prices keep moving down, insiders believe that the mainstream prices of Chinese molybdenum powder 99.95%min would drop to around RMB520/kg (USD74.7/kg) in the coming week.
With an annual production capacity of 1,800t, the producer produced around 1,360t in 2022 and about 240t in the first two months of 2023. They expect to produce about 80t this month, down by around 40t from last month due to lack of orders. They have around 30t of inventories for the moment, down by about 10t MoM.
"We saw slumping raw material prices during the past week, and no clients would like to add inventory for the moment. For firm bids, we could accept RMB550/kg (USD79/kg) EXW D/A 180 days now," said a producer in South China. They last sold 10t of molybdenum powder 99.95%min at RMB600/kg (USD86.2/kg) about 10 days ago and didn't receive any inquiries after that. In view of the quiet market, they expect that the mainstream prices of Chinese molybdenum powder 99.95%min would decline to around RMB500/kg (USD71.9/kg) in the following week.
With an annual production capacity of 1,000t, they produced about 645t in 2022 and about 140t so far this year. They expect to produce about 70t this month, almost the same volume as last month, holding around 40t of stocks now, up by about 10t MoM.
"Few buyers would like to make purchase for the moment and we could hardly guarantee our monthly sales volume. In order to promote sales, we could accept RMB550/kg (USD79/kg) EXW D/A 180 days for the moment," said a producer in North China. They just sold 10t of molybdenum powder 99.95%min at this price level this Monday, but refused to sell at any prices below RMB580/kg (USD83.4/kg) just one week ago. Considering that raw material prices keep moving down, insiders believe that the mainstream prices of Chinese molybdenum powder 99.95%min would drop to around RMB520/kg (USD74.7/kg) in the coming week.
With an annual production capacity of 1,800t, the producer produced around 1,360t in 2022 and about 240t in the first two months of 2023. They expect to produce about 80t this month, down by around 40t from last month due to lack of orders. They have around 30t of inventories for the moment, down by about 10t MoM.
"We saw slumping raw material prices during the past week, and no clients would like to add inventory for the moment. For firm bids, we could accept RMB550/kg (USD79/kg) EXW D/A 180 days now," said a producer in South China. They last sold 10t of molybdenum powder 99.95%min at RMB600/kg (USD86.2/kg) about 10 days ago and didn't receive any inquiries after that. In view of the quiet market, they expect that the mainstream prices of Chinese molybdenum powder 99.95%min would decline to around RMB500/kg (USD71.9/kg) in the following week.
With an annual production capacity of 1,000t, they produced about 645t in 2022 and about 140t so far this year. They expect to produce about 70t this month, almost the same volume as last month, holding around 40t of stocks now, up by about 10t MoM.
