Tight Mo market to support FeMo prices
2007-10-23 13:17:46 【Print】
BEIJING (Asian Metal) 23 Oct 07 – On account of less material coming from China as a result of non-availability of export quota, less production from Chile and less material from the U.S., molyoxide market remained firm with prices ranging USD32.20-32.70/lb in warehouse Rotterdam for prompt release.
A source sold a truckload of moly-briquettes last week for USD32.10/lb in warehouse Rotterdam for prompt release, but as trading activity opened Monday, he raised his quotations of molyoxide to USD32.20-32.50, from USD31.80/lb he quoted last week. In the same vein, moly-briquettes was offered Monday in the range USD32.50-32.60/lb, and all these are now giving supports to ferromolybdenum market.
A source that sold a small tonnage of ferromolybdenum last Friday for above USD74/kg Mo d.p. remarked "the market would not soften as long as molyoxide prices remain high even though there may not be big ferromolybdenum purchases now."
Trying to take advantage of high ferromolybdenum prices, Chinese suppliers have maintained offers as high as USD72.50/kg Mo d.u. but so far, according to a dealer who sold 10t last Friday, the best he got was USD71.60/kg Mo d.u. in warehouse Rotterdam for prompt release. To the above, another source agreed and confirmed even though there enquiries,, end-users were complaining of high prices.
The source offered material at USD72.50/kg Mo d.u. and the would-be buyer counter-bid at USD71.70/kg Mo d.u. in warehouse Rotterdam for prompt release, but he remained confident things would change as molyoxide quotations were high as USD32.72/lb.
A source sold a truckload of moly-briquettes last week for USD32.10/lb in warehouse Rotterdam for prompt release, but as trading activity opened Monday, he raised his quotations of molyoxide to USD32.20-32.50, from USD31.80/lb he quoted last week. In the same vein, moly-briquettes was offered Monday in the range USD32.50-32.60/lb, and all these are now giving supports to ferromolybdenum market.
A source that sold a small tonnage of ferromolybdenum last Friday for above USD74/kg Mo d.p. remarked "the market would not soften as long as molyoxide prices remain high even though there may not be big ferromolybdenum purchases now."
Trying to take advantage of high ferromolybdenum prices, Chinese suppliers have maintained offers as high as USD72.50/kg Mo d.u. but so far, according to a dealer who sold 10t last Friday, the best he got was USD71.60/kg Mo d.u. in warehouse Rotterdam for prompt release. To the above, another source agreed and confirmed even though there enquiries,, end-users were complaining of high prices.
The source offered material at USD72.50/kg Mo d.u. and the would-be buyer counter-bid at USD71.70/kg Mo d.u. in warehouse Rotterdam for prompt release, but he remained confident things would change as molyoxide quotations were high as USD32.72/lb.
