Brazilian imported ferromolybdenum prices decline
2023-04-07 11:05:38 [Print]
BEIJING (Asian Metal) 7 Apr 23 - In view of negative market mentality and dropping prices in international market, Brazilian imported ferromolybdenum 60%min market mentality went down accordingly during the past week. Currently, the mainstream import prices of Brazilian ferromolybdenum 60%min stand at USD50-51/kg Mo CIF Brazil, down by around USD4/kg Mo from late last week. Considering that buyers could easily find enough goods in spot market and the sufficient supply continues, insiders believe that mainstream prices of Brazilian imported ferromolybdenum 60%min would move down further in the coming week.
"We could easily find enough goods from resource regions and oversea suppliers dropped their prices to the latest around USD50/kg Mo CIF Brazil," said a trader in Brazil. They just bought about 20t of ferromolybdenum 60%min at this price level three days ago when they supplier quoted at USD51/kg Mo. However, no suppliers would like to sell at any prices below USD55/kg Mo just one week ago. Prices of molybdenum oxide 57%min they inquired also dropped below USD23/lb Mo CIF Brazil due to the sufficient supply. Considering that sufficient supply in spot market continues, they predict that the mainstream prices of Brazilian imported ferromolybdenum 60%min would say below USD50/kg Mo in the coming week.
With a monthly trading volume of 40t, they expect to sell around 40t this month, almost the same volume like last month. They have about 20t of regular stocks for the moment, unchanged MoM.
"Overseas suppliers dropped their prices to the latest around USD51/kg Mo CIF Brazil and we could buy at USD50.5/kg Mo for firm bids," said another trader in Brazil. They last bought 10t of ferromolybdenum 60%min at USD55/kg Mo about one week ago. Considering that most suppliers prefer to clear their inventory as soon as possible and the sufficient supply in spot market continues, they expect that the mainstream import prices of Brazilian ferromolybdenum 60%min would move down slightly in the following week.
With a regular trading volume of 40tpm, they expect to sell about 40t in April, almost the same volume as March, holding no inventory now, unchanged MoM.
"We could easily find enough goods from resource regions and oversea suppliers dropped their prices to the latest around USD50/kg Mo CIF Brazil," said a trader in Brazil. They just bought about 20t of ferromolybdenum 60%min at this price level three days ago when they supplier quoted at USD51/kg Mo. However, no suppliers would like to sell at any prices below USD55/kg Mo just one week ago. Prices of molybdenum oxide 57%min they inquired also dropped below USD23/lb Mo CIF Brazil due to the sufficient supply. Considering that sufficient supply in spot market continues, they predict that the mainstream prices of Brazilian imported ferromolybdenum 60%min would say below USD50/kg Mo in the coming week.
With a monthly trading volume of 40t, they expect to sell around 40t this month, almost the same volume like last month. They have about 20t of regular stocks for the moment, unchanged MoM.
"Overseas suppliers dropped their prices to the latest around USD51/kg Mo CIF Brazil and we could buy at USD50.5/kg Mo for firm bids," said another trader in Brazil. They last bought 10t of ferromolybdenum 60%min at USD55/kg Mo about one week ago. Considering that most suppliers prefer to clear their inventory as soon as possible and the sufficient supply in spot market continues, they expect that the mainstream import prices of Brazilian ferromolybdenum 60%min would move down slightly in the following week.
With a regular trading volume of 40tpm, they expect to sell about 40t in April, almost the same volume as March, holding no inventory now, unchanged MoM.
