Chinese molybdenum powder prices down
2023-04-13 08:08:10 [Print]
BEIJING (Asian Metal) 13 Apr 23 - In view of the slumping raw material prices and rare inquiries in spot market, Chinese molybdenum powder market mentality stayed negative during the past week. At present, the mainstream prices of Chinese molybdenum powder 99.95%min stand at RMB370-373/kg (USD54.2-54.7/kg) EXW D/A 180 days, down by RMB30/kg (USD4.4/kg) from late last week. Considering that few buyers would like to add inventory and the negative market mentality continues, insiders believe that the mainstream prices of Chinese molybdenum powder 99.95%min would keep moving down in the coming week.
"Raw material prices kept slumping so far this month, and our clients all prefer to watch the market now. In order to guarantee our market competitiveness, we could accept RMB370/kg (USD54.2/kg) EXW D/A 180 days now," said a producer in North China. They last sold 10t of molybdenum powder 99.95%min about one week ago. They contacted their major clients this Wednesday, but buyers target prices only stayed at around RMB350/kg (USD51.3/kg). In view of the rare inquiries in spot market, they predict that the mainstream prices of Chinese molybdenum powder 99.95%min would drop to around RMB350/kg (USD51.3/kg) in the coming week.
With an annual production capacity of 1,200t, they produced about 680t in 2022 and about 120t so far this year. They expect to produce about 40t this month, the same as March, holding around 20t of regular stocks now, unchanged MoM.
"In order to promote sales, we dropped our price to the latest RMB380/kg (USD55.7/kg) EXW D/A 180 days, but no any buyers would like to purchase at prices above RMB370/kg (USD54.2/kg) now," said another producer in North China. They last sold 10t of molybdenum powder 99.95%min at RMB380/kg (USD55.7/kg) this Monday and refused to sell at any prices below RMB400/kg (USD58.6/kg) just one week ago. Considering that the slumping raw material prices continue, they except that the mainstream prices of Chinese molybdenum powder 99.95%min would drop below RMB350/kg (USD51.3/kg) in the following week.
With an annual production capacity of 2,400t, they produced about 1,280t in 2022 and about 280t in the first three months of 2023. They expect to produce about 80t in April, almost the same volume as March. They have around 80t of stocks for the moment, unchanged MoM.
"Raw material prices kept slumping so far this month, and our clients all prefer to watch the market now. In order to guarantee our market competitiveness, we could accept RMB370/kg (USD54.2/kg) EXW D/A 180 days now," said a producer in North China. They last sold 10t of molybdenum powder 99.95%min about one week ago. They contacted their major clients this Wednesday, but buyers target prices only stayed at around RMB350/kg (USD51.3/kg). In view of the rare inquiries in spot market, they predict that the mainstream prices of Chinese molybdenum powder 99.95%min would drop to around RMB350/kg (USD51.3/kg) in the coming week.
With an annual production capacity of 1,200t, they produced about 680t in 2022 and about 120t so far this year. They expect to produce about 40t this month, the same as March, holding around 20t of regular stocks now, unchanged MoM.
"In order to promote sales, we dropped our price to the latest RMB380/kg (USD55.7/kg) EXW D/A 180 days, but no any buyers would like to purchase at prices above RMB370/kg (USD54.2/kg) now," said another producer in North China. They last sold 10t of molybdenum powder 99.95%min at RMB380/kg (USD55.7/kg) this Monday and refused to sell at any prices below RMB400/kg (USD58.6/kg) just one week ago. Considering that the slumping raw material prices continue, they except that the mainstream prices of Chinese molybdenum powder 99.95%min would drop below RMB350/kg (USD51.3/kg) in the following week.
With an annual production capacity of 2,400t, they produced about 1,280t in 2022 and about 280t in the first three months of 2023. They expect to produce about 80t in April, almost the same volume as March. They have around 80t of stocks for the moment, unchanged MoM.
