Chinese ammonium tetramolybdate market sees little inquiries
2023-04-24 08:23:37 [Print]
BEIJING (Asian Metal) 24 Apr 23 - Raw material prices moved up slightly during the past week, but Chinese ammonium tetramolybdate market still maintained negative due to the rare inquiries. Currently, the mainstream prices of Chinese ammonium tetramolybdate 56%min stand at RMB170,000-172,000/t (USD24.9-25.2/kg V) EXW D/A 180 days, unchanged from middle last week. Considering that most buyers prefer to watch the market and no signs show that inquiries could turn to active, insiders believe that the mainstream prices of Chinese ammonium tetramolybdate 56%min would keep soft in the coming week.
"No any buyers contacted me during the past week, but we could receive at least two calls before April. However, in view of the uncertain raw material prices, we refuse to loosen our price. For firm bids, we ask at least RMB170,000/t (USD24.9/kg V) EXW D/P," said a producer in North China. They last sold 5t of ammonium tetramolybdate 56%min at this price level about 10 days ago. Considering that few buyers would like to add inventory and the rare inquiries in spot market continues, they predict that the mainstream prices of Chinese ammonium tetramolybdate 56%min would stay weak in the coming week.
With an annual production capacity of 2,400t, they produced about 385t in 2022 and about 70t so far this year. They expect to produce about 20t this month, the same as last month. They have about 10t of regular stocks now, unchanged MoM.
"We could receive at least one inquiry a week, but didn't receive any one over the past two week. According to our raw material cost, we need at least RMB172,000/t (USD25.2/kg V) EXW D/A 180 days for the moment," said another producer in South China. They contacted their major clients early last week and sold 10t at this price level. In view of the rare inquiries in spot market, they predict that the mainstream prices of Chinese ammonium tetramolybdate 56%min would maintain soft in the following week.
With an annual production capacity of 1,800t, they produced around 390t in 2022 and about 90t so far this year. They expect to produce about 30t this month, almost the same volume as last month, holding around 10t of stocks now, down by about 10t MoM.
"No any buyers contacted me during the past week, but we could receive at least two calls before April. However, in view of the uncertain raw material prices, we refuse to loosen our price. For firm bids, we ask at least RMB170,000/t (USD24.9/kg V) EXW D/P," said a producer in North China. They last sold 5t of ammonium tetramolybdate 56%min at this price level about 10 days ago. Considering that few buyers would like to add inventory and the rare inquiries in spot market continues, they predict that the mainstream prices of Chinese ammonium tetramolybdate 56%min would stay weak in the coming week.
With an annual production capacity of 2,400t, they produced about 385t in 2022 and about 70t so far this year. They expect to produce about 20t this month, the same as last month. They have about 10t of regular stocks now, unchanged MoM.
"We could receive at least one inquiry a week, but didn't receive any one over the past two week. According to our raw material cost, we need at least RMB172,000/t (USD25.2/kg V) EXW D/A 180 days for the moment," said another producer in South China. They contacted their major clients early last week and sold 10t at this price level. In view of the rare inquiries in spot market, they predict that the mainstream prices of Chinese ammonium tetramolybdate 56%min would maintain soft in the following week.
With an annual production capacity of 1,800t, they produced around 390t in 2022 and about 90t so far this year. They expect to produce about 30t this month, almost the same volume as last month, holding around 10t of stocks now, down by about 10t MoM.
