European ferromolybdenum suppliers pessimistic about the market
2024-04-26 10:05:58 [Print]
BEIJING (Asian Metal) 26 Apr 24 - As most consumers refuse to accept prices higher than USD49.5/kg Mo today, European ferromolybdenum 65%min suppliers become pessimistic about the market in the recent two days. The mainstream prices of European ferromolybdenum 65%min stand at USD49.0-49.5/kg Mo in warehouse Rotterdam at present, down by USD1.0/kg Mo from Tuesday. As most consumers hold wait-and-see attitudes, insiders expect that the mainstream prices of European ferromolybdenum 65%min would decrease further in the coming days.
"We have no confidence in the market as most clients refuse to purchase at higher prices even though we used to raise our quotations early this week", said a trader in Europe, who offers USD49.5/kg Mo in warehouse Rotterdam for ferromolybdenum 65%min and could accept USD49.0/kg Mo for orders no less than 5t at present, while they quoted USD50.0/kg Mo and could accept no counteroffers on Tuesday. They received an inquiry of 5t from a regular client at around sold about USD49.0/kg Mo early this week, while they refused to accept it at that time. They finally sold about 5t at around USD49.0/kg Mo to the client on Thursday. As most downstream consumers watch the market and don't accept prices higher than USD49.0/kg Mo, the trader plans to lower their price by around USD0.5/kg Mo next week and predicted that the mainstream prices of European ferromolybdenum 65%min would decrease by around USD0.5/kg Mo in the coming week.
With a regular monthly trading volume of 40t, they sold around 500t in 2023 and about 160t so far this year. They expect to sell about 40t this month, almost the same as last month. They have 10t of inventories now, the same as March.
Another trader in Europe notes that they become pessimistic about the market as most consumers refuse to place orders at prices higher than USD49.5/kg Mo now. "We would like to sell ferromolybdenum 65%min at around USD50.0/kg Mo in warehouse Rotterdam and consider USD49.5/kg Mo if the clients could purchase no less than 10t at present, while we quoted USD51.0/kg Mo and refused to accept prices lower than USD50.5/kg Mo for the same quantity on Tuesday", said the trader, who failed to conclude any deals after they last sold around 10t at about USD48.0/kg Mo to a regular client early last week. As most consumers remain cautious in placing orders, the trader has no confidence in the market next week and predicts that the mainstream prices of European ferromolybdenum 65%min would decrease by around USD0.5/kg Mo in the following week.
With a regular monthly trading volume of 40t, the trader sold around 470t in 2023 and about 150t so far in 2024. They would sell about 40t this month, unchanged from last month. They have 20t of inventories for the moment, unchanged MoM.
"We have no confidence in the market as most clients refuse to purchase at higher prices even though we used to raise our quotations early this week", said a trader in Europe, who offers USD49.5/kg Mo in warehouse Rotterdam for ferromolybdenum 65%min and could accept USD49.0/kg Mo for orders no less than 5t at present, while they quoted USD50.0/kg Mo and could accept no counteroffers on Tuesday. They received an inquiry of 5t from a regular client at around sold about USD49.0/kg Mo early this week, while they refused to accept it at that time. They finally sold about 5t at around USD49.0/kg Mo to the client on Thursday. As most downstream consumers watch the market and don't accept prices higher than USD49.0/kg Mo, the trader plans to lower their price by around USD0.5/kg Mo next week and predicted that the mainstream prices of European ferromolybdenum 65%min would decrease by around USD0.5/kg Mo in the coming week.
With a regular monthly trading volume of 40t, they sold around 500t in 2023 and about 160t so far this year. They expect to sell about 40t this month, almost the same as last month. They have 10t of inventories now, the same as March.
Another trader in Europe notes that they become pessimistic about the market as most consumers refuse to place orders at prices higher than USD49.5/kg Mo now. "We would like to sell ferromolybdenum 65%min at around USD50.0/kg Mo in warehouse Rotterdam and consider USD49.5/kg Mo if the clients could purchase no less than 10t at present, while we quoted USD51.0/kg Mo and refused to accept prices lower than USD50.5/kg Mo for the same quantity on Tuesday", said the trader, who failed to conclude any deals after they last sold around 10t at about USD48.0/kg Mo to a regular client early last week. As most consumers remain cautious in placing orders, the trader has no confidence in the market next week and predicts that the mainstream prices of European ferromolybdenum 65%min would decrease by around USD0.5/kg Mo in the following week.
With a regular monthly trading volume of 40t, the trader sold around 470t in 2023 and about 150t so far in 2024. They would sell about 40t this month, unchanged from last month. They have 20t of inventories for the moment, unchanged MoM.
