Chinese ferromolybdenum producers lower offers
2024-04-26 08:17:42 [Print]
BEIJING (Asian Metal) 26 Apr 24 - Given that many steel mills cancel purchase plans successively these two days, the producers soften their stances and lower their offers of Chinese ferromolybdenum 60%min to about RMB240,000/t (USD55.17/kg Mo), but the transaction prices are still between RMB231,000-234,000/t (USD53.10-53.79/kg Mo) EXW D/P. As most buyers prefer to watch the market now, industrial participants believe that the prices would edge down slightly in the forthcoming week.
"We offer RMB240,000/t (USD55.17/kg Mo) and could accept the price no less than RMB238,000/t (USD54.71/kg Mo) today, while the price quoted yesterday is RMB245,000/t (USD56.32/kg Mo), down by RMB5000/t (USD1.15/kg Mo)," a producer in Liaoning disclosed. They refused a firm bid at around RMB230,000/t (USD52.87/kg Mo) EXW D/P for ferromolybdenum 60%min today because the price is far from their psychological expectation. They sold 30t at RMB218,000/t (USD50.11/kg Mo) last week. Considering that big steel mills start to lower their offers and watch the market, the producer forecasts that the prices would drop off slightly the following week.
Based on an annual production capacity of 18,000t, the producer produced 1,400t in April, 1,500t in March and 13,100t in 2023. They have stocks of 100t presently.
Another producer in Liaoning revealed, "We offer RMB243,000/t (USD55.86/kg Mo) and could accept the price no less than RMB240,000/t (USD55.17/kg Mo) today, while the price quoted yesterday was RMB248,000/t (USD57.01/kg Mo) and the lowest acceptable price was RMB245,000/t (USD56.32/kg Mo), down by RMB5,000/t (USD1.15/kg Mo)." They refused firm bids at around RMB235,000/t (USD54.02/kg Mo) EXW D/P for ferromolybdenum 60%min today. They last sold 30t at RMB223,000/t (USD51.26/kg Mo) last Friday. They prefer to sell directly to end users to avoid risks. Due to decreasing offers, the producer expects that the prices would decline in the coming days.
With an annual production capacity of 7,200t, the producer produced 250t in April, 300t in March and 2,350t in 2023. They have no stocks presently.
"We offer RMB240,000/t (USD55.17/kg Mo) and could accept the price no less than RMB238,000/t (USD54.71/kg Mo) today, while the price quoted yesterday is RMB245,000/t (USD56.32/kg Mo), down by RMB5000/t (USD1.15/kg Mo)," a producer in Liaoning disclosed. They refused a firm bid at around RMB230,000/t (USD52.87/kg Mo) EXW D/P for ferromolybdenum 60%min today because the price is far from their psychological expectation. They sold 30t at RMB218,000/t (USD50.11/kg Mo) last week. Considering that big steel mills start to lower their offers and watch the market, the producer forecasts that the prices would drop off slightly the following week.
Based on an annual production capacity of 18,000t, the producer produced 1,400t in April, 1,500t in March and 13,100t in 2023. They have stocks of 100t presently.
Another producer in Liaoning revealed, "We offer RMB243,000/t (USD55.86/kg Mo) and could accept the price no less than RMB240,000/t (USD55.17/kg Mo) today, while the price quoted yesterday was RMB248,000/t (USD57.01/kg Mo) and the lowest acceptable price was RMB245,000/t (USD56.32/kg Mo), down by RMB5,000/t (USD1.15/kg Mo)." They refused firm bids at around RMB235,000/t (USD54.02/kg Mo) EXW D/P for ferromolybdenum 60%min today. They last sold 30t at RMB223,000/t (USD51.26/kg Mo) last Friday. They prefer to sell directly to end users to avoid risks. Due to decreasing offers, the producer expects that the prices would decline in the coming days.
With an annual production capacity of 7,200t, the producer produced 250t in April, 300t in March and 2,350t in 2023. They have no stocks presently.
