Chinese molybdenum powder prices drop
2023-03-30 07:49:12 [Print]
BEIJING (Asian Metal) 30 Mar 23 - In view of the slumping raw material prices, Chinese molybdenum powder market mentality maintained negative during the past week. Currently, the mainstream prices of Chinese molybdenum powder 99.95%min stand at RMB465-468/kg (USD68.1-68.6/kg) EXW D/A 180 days, down by RMB40/kg (USD5.9/kg) from late last week. Considering that most buyers prefer to watch the market and inquiries keep rare, insiders predict that the mainstream prices of Chinese molybdenum powder 99.95%min would stay below RMB400/kg (USD58.6/kg) in the coming week.
"Prices of molybdenum concentrate 45%min we inquired dropped to the latest around RMB2,970/mtu (USD19.7/lb Mo) EXW D/P and our regular clients all prefer to watch the market now. In order to promote sales, we could accept RMB455/kg (USD66.7/kg) EXW D/A 180 days now," said a producer in North China. They just sold 10t of molybdenum powder 99.95%min at this price level this Monday after a hard bargain. They called their major clients this Wednesday, but buyers kept reluctant to purchase at any prices above RMB400/kg (USD58.6/kg) now. In view of the slumping raw material prices and rare inquiries in spot market, they expect that the mainstream prices of Chinese molybdenum powder 99.95%min would drop below RMB400/kg (USD58.6/kg) in the coming week.
With an annual production capacity of 1,200t, they produced about 590t in 2022 and about 130t so far this year. They expect to produce about 50t in March, up by around 10t from last month. They have around 20t of regular stocks for the moment, unchanged MoM.
"Raw material prices kept moving down during the past week and no clients sent any inquiries to me during the past two weeks. In order to clear our inventory as soon as possible, we could accept RMB455/kg (USD66.7/kg) EXW D/A 180 days now," said a producer in South China. They last sold 20t of molybdenum powder 99.95%min at RMB585/kg (USD85.7/kg) about two weeks ago. In view of the growing inventory pressure, they predict that the mainstream prices of Chinese molybdenum powder 99.95%min would drop by about RMB50/kg (USD7.3/kg) in the following week.
With an annual production capacity of 1,800t, they produced around 390t in 2022 and about 60t in the first two months of 2023. The producer expects to produce about 30t this month, almost the same as February, holding about 20t of stocks now, up by about 10t from late last month.
"Prices of molybdenum concentrate 45%min we inquired dropped to the latest around RMB2,970/mtu (USD19.7/lb Mo) EXW D/P and our regular clients all prefer to watch the market now. In order to promote sales, we could accept RMB455/kg (USD66.7/kg) EXW D/A 180 days now," said a producer in North China. They just sold 10t of molybdenum powder 99.95%min at this price level this Monday after a hard bargain. They called their major clients this Wednesday, but buyers kept reluctant to purchase at any prices above RMB400/kg (USD58.6/kg) now. In view of the slumping raw material prices and rare inquiries in spot market, they expect that the mainstream prices of Chinese molybdenum powder 99.95%min would drop below RMB400/kg (USD58.6/kg) in the coming week.
With an annual production capacity of 1,200t, they produced about 590t in 2022 and about 130t so far this year. They expect to produce about 50t in March, up by around 10t from last month. They have around 20t of regular stocks for the moment, unchanged MoM.
"Raw material prices kept moving down during the past week and no clients sent any inquiries to me during the past two weeks. In order to clear our inventory as soon as possible, we could accept RMB455/kg (USD66.7/kg) EXW D/A 180 days now," said a producer in South China. They last sold 20t of molybdenum powder 99.95%min at RMB585/kg (USD85.7/kg) about two weeks ago. In view of the growing inventory pressure, they predict that the mainstream prices of Chinese molybdenum powder 99.95%min would drop by about RMB50/kg (USD7.3/kg) in the following week.
With an annual production capacity of 1,800t, they produced around 390t in 2022 and about 60t in the first two months of 2023. The producer expects to produce about 30t this month, almost the same as February, holding about 20t of stocks now, up by about 10t from late last month.
