Chinese ferromolybdenum market keep softening
2005-10-20 09:58:32 【Print】
BEIJING (Asian Metal) 20 Oct 05 - Chinese ferromolybdenum markets remain slow this week; with prices around RMB360, 000/t in Chinese domestic markets and USD75/kg in Chinese export markets.
A Henan-based ferromolybdenum company now quotes RMB360,000/t for ferromolybdenum 60% orders above 10t, but it's difficult for them to accept prices below this level. "The market keeps softening now, and the price is going down," said a senior manager from the company. "We have sold about 70-80t of ferromolybdenum 60% for RMB362,000/t last week."
With about 120t of ferromolybdenum in stock, the company produces about 350tpm of the material, selling 50% of its products on long-term contracts.
In export markets, the source claimed to have sold 3 containers of ferromolybdenum for USD78/kg in Rotterdam warehouse for prompt delivery and now quotes this price for another several containers, although most of Chinese ferromolybdenum producers have already reduced their quotations to USD75-76/kg these days.
The company quotes USD32/lb for 60t of molybdenum oxide to a foreign buyer. "I think the deal can be concluded at USD31.5/lb," said the producer. It sells molybdenum oxide for RMB5, 800/mtu in Chinese domestic markets.
A Liaoning-based ferromolybdenum company now quotes USD76/kg FOB CMP for prompt delivery and has received some enquiries from foreign markets, but has not made any deals this week. "I believe that the market would rebound in the coming weeks," said the producer. "We cannot accept anything below USD78/kg for ferromolybdenum for November delivery."
With about 3-4 containers of ferromolybdenum in stock, the smelter now quotes RMB362, 000/t for ferromolybdenum in Chinese domestic markets.
A Hong Kong-based trader has reportedly sold a container of ferromolybdenum for USD75/kg last weekend and has another container of ferromolybdenum in Rotterdam warehouse. "I hope the ferromolybdenum market would be stable in the coming weeks,” said the producer. "All things being equal, I do not expect the market would rebound in the coming several days."
A Henan-based ferromolybdenum company now quotes RMB360,000/t for ferromolybdenum 60% orders above 10t, but it's difficult for them to accept prices below this level. "The market keeps softening now, and the price is going down," said a senior manager from the company. "We have sold about 70-80t of ferromolybdenum 60% for RMB362,000/t last week."
With about 120t of ferromolybdenum in stock, the company produces about 350tpm of the material, selling 50% of its products on long-term contracts.
In export markets, the source claimed to have sold 3 containers of ferromolybdenum for USD78/kg in Rotterdam warehouse for prompt delivery and now quotes this price for another several containers, although most of Chinese ferromolybdenum producers have already reduced their quotations to USD75-76/kg these days.
The company quotes USD32/lb for 60t of molybdenum oxide to a foreign buyer. "I think the deal can be concluded at USD31.5/lb," said the producer. It sells molybdenum oxide for RMB5, 800/mtu in Chinese domestic markets.
A Liaoning-based ferromolybdenum company now quotes USD76/kg FOB CMP for prompt delivery and has received some enquiries from foreign markets, but has not made any deals this week. "I believe that the market would rebound in the coming weeks," said the producer. "We cannot accept anything below USD78/kg for ferromolybdenum for November delivery."
With about 3-4 containers of ferromolybdenum in stock, the smelter now quotes RMB362, 000/t for ferromolybdenum in Chinese domestic markets.
A Hong Kong-based trader has reportedly sold a container of ferromolybdenum for USD75/kg last weekend and has another container of ferromolybdenum in Rotterdam warehouse. "I hope the ferromolybdenum market would be stable in the coming weeks,” said the producer. "All things being equal, I do not expect the market would rebound in the coming several days."
