European ferromolybdenum market mentality turns positive
2023-04-21 10:03:30 [Print]
BEIJING (Asian Metal) 21 Apr 23 - Due to the soft demand from terminal users, European ferromolybdenum 65%min prices faced huge dropping pressure during the past week. Currently, the mainstream prices of European ferromolybdenum 65%min stand at USD44.5-45/kg Mo in warehouse Rotterdam, down by USD2.5/kg Mo from late last week. However, as most buyers came back to the market after the Easter Holiday, traders' inquiries turned active slightly from middle this week and some suppliers even tried to increase their prices. In view of the current abnormal positive market mentality, insiders believe that the mainstream prices of European ferromolybdenum 65%min would stay in a stalemate in the coming week.
"Some buyers tried to contact me to negotiate prices this week after their Easter Holiday. Though none of them would really purchase, it still increased our market confidence. According to the feedback of our major clients, we could easily close deal at price around USD45/kg Mo in warehouse Rotterdam now," said a trader in Middle Europe. They dropped their price from USD54/kg Mo about 10 days ago to the current USD45/kg Mo and last sold 10t of ferromolybdenum 65%min at USD45/kg Mo about one week ago. In view of the active inquiries, they increased their price back again to USD54/kg Mo this Thursday, but no buyers followed up yet. Prices of molybdenum oxide 57%min they inquired increased from USD16.5/lb Mo in warehouse Rotterdam late last week to the current about USD20/lb Mo. Though market mentality turned positive, in view of the soft demand from terminal users, they predict that the mainstream prices of European ferromolybdenum 65%min would stay in a stalemate in the coming week.
With a regular monthly trading volume of 60t, they sold around 720t in 2022 and about 180t in the first quarter this year. They expect to sell about 40t this month, down by about 20t from March due to lack of orders. They have about 20t of regular inventories now, unchanged MoM.
"Some suppliers tried to increase their prices suddenly after the Easter Holiday, but I don't think that prices could really increase just because of the weak demand from terminal users. In order to guarantee our market competitiveness, we dropped our price from USD52/kg Mo in warehouse Rotterdam two weeks ago to the current around USD44.5/kg Mo," said a trader in West Europe. They last sold 10t ferromolybdenum 65%min at around USD45.5/kg Mo late last week. Prices they inquired in spot market suddenly increased to the latest about USD53/kg Mo over the past two days. Considering that the positive market mentality stays anomalous now, they expect that the mainstream prices of European ferromolybdenum 65%min would stay in a stalemate next week.
With a monthly trading volume of 40t, they sold about 480t in 2022 and about 120t so far in 2023. They expect to sell about 30t in April, down by about 10t from last month due to lack of orders from terminal users, holding about 20t of regular stocks for the moment, unchanged MoM.
"Some buyers tried to contact me to negotiate prices this week after their Easter Holiday. Though none of them would really purchase, it still increased our market confidence. According to the feedback of our major clients, we could easily close deal at price around USD45/kg Mo in warehouse Rotterdam now," said a trader in Middle Europe. They dropped their price from USD54/kg Mo about 10 days ago to the current USD45/kg Mo and last sold 10t of ferromolybdenum 65%min at USD45/kg Mo about one week ago. In view of the active inquiries, they increased their price back again to USD54/kg Mo this Thursday, but no buyers followed up yet. Prices of molybdenum oxide 57%min they inquired increased from USD16.5/lb Mo in warehouse Rotterdam late last week to the current about USD20/lb Mo. Though market mentality turned positive, in view of the soft demand from terminal users, they predict that the mainstream prices of European ferromolybdenum 65%min would stay in a stalemate in the coming week.
With a regular monthly trading volume of 60t, they sold around 720t in 2022 and about 180t in the first quarter this year. They expect to sell about 40t this month, down by about 20t from March due to lack of orders. They have about 20t of regular inventories now, unchanged MoM.
"Some suppliers tried to increase their prices suddenly after the Easter Holiday, but I don't think that prices could really increase just because of the weak demand from terminal users. In order to guarantee our market competitiveness, we dropped our price from USD52/kg Mo in warehouse Rotterdam two weeks ago to the current around USD44.5/kg Mo," said a trader in West Europe. They last sold 10t ferromolybdenum 65%min at around USD45.5/kg Mo late last week. Prices they inquired in spot market suddenly increased to the latest about USD53/kg Mo over the past two days. Considering that the positive market mentality stays anomalous now, they expect that the mainstream prices of European ferromolybdenum 65%min would stay in a stalemate next week.
With a monthly trading volume of 40t, they sold about 480t in 2022 and about 120t so far in 2023. They expect to sell about 30t in April, down by about 10t from last month due to lack of orders from terminal users, holding about 20t of regular stocks for the moment, unchanged MoM.
