European ferromolybdenum prices down
2023-03-31 07:42:52 [Print]
BEIJING (Asian Metal) 31 Mar 23 - As terminal users reduced demand significantly, European ferromolybdenum 65%min market mentality stayed soft during the past week. Currently, the mainstream prices of European ferromolybdenum 65%min stand at USD56-56.5/kg Mo in warehouse Rotterdam, down by USD7.5/kg Mo from late last week. Considering that most buyers prefer to watch the market and the negative mentality continues, insiders believe that the mainstream prices of European ferromolybdenum 65%min would drop further in the coming week.
"Our regular clients all prefer to watch the market and we saw little inquiries so far this week. In order to promote sales, we could accept USD56/kg Mo in warehouse Rotterdam now," said a trader in East Europe. They last sold 10t of ferromolybdenum 60%min at USD62.5/kg Mo late last week. Considering that inquires in spot market stay rare and suppliers from Asia keep dropping prices, they predict that the mainstream prices of European ferromolybdenum 65%min would drop to around USD50/kg Mo in warehouse Rotterdam in the following week.
With a monthly trading volume of 60t, they sold around 720t in 2022 and about 160t so far this year. They expect to sell about 40t this month, down by about 20t from last month due to lack of orders. They have about 20t of inventories for the moment, unchanged from late last month.
"No buyers would like to add inventory for the moment and we could easily feel the negative mentality. In order to guarantee our monthly sales volume, we could accept USD56.5/kg Mo in warehouse Rotterdam now," said a trader in Middle Europe. They just sold 10t of ferromolybdenum 65%min at this price level this Wednesday. However, they refused to sell at any prices below USD63.5/kg Mo just one week ago. Considering that Asian producers keep dropping prices, they expect that the mainstream prices of European ferromolybdenum 65%min would drop by at least USD5/kg Mo in the coming week.
With a regular trading volume of 40tpm, they sold about 480t in 2022 and about 80t in the first two months of 2023. They expect to sell about 40t in March, almost the same volume as last month, holding around 20t of regular inventories for the moment, unchanged MoM.
"Our regular clients all prefer to watch the market and we saw little inquiries so far this week. In order to promote sales, we could accept USD56/kg Mo in warehouse Rotterdam now," said a trader in East Europe. They last sold 10t of ferromolybdenum 60%min at USD62.5/kg Mo late last week. Considering that inquires in spot market stay rare and suppliers from Asia keep dropping prices, they predict that the mainstream prices of European ferromolybdenum 65%min would drop to around USD50/kg Mo in warehouse Rotterdam in the following week.
With a monthly trading volume of 60t, they sold around 720t in 2022 and about 160t so far this year. They expect to sell about 40t this month, down by about 20t from last month due to lack of orders. They have about 20t of inventories for the moment, unchanged from late last month.
"No buyers would like to add inventory for the moment and we could easily feel the negative mentality. In order to guarantee our monthly sales volume, we could accept USD56.5/kg Mo in warehouse Rotterdam now," said a trader in Middle Europe. They just sold 10t of ferromolybdenum 65%min at this price level this Wednesday. However, they refused to sell at any prices below USD63.5/kg Mo just one week ago. Considering that Asian producers keep dropping prices, they expect that the mainstream prices of European ferromolybdenum 65%min would drop by at least USD5/kg Mo in the coming week.
With a regular trading volume of 40tpm, they sold about 480t in 2022 and about 80t in the first two months of 2023. They expect to sell about 40t in March, almost the same volume as last month, holding around 20t of regular inventories for the moment, unchanged MoM.
