Chilean and Chinese molybdenum in Europe soften price
2005-10-25 09:21:23 【Print】
BEIJING (Asian Metal) 25 Oct 05 – Just as the abundance of Russia and Ukraine-origin ferrotitanium 70%min brought down the material to its lowest ebb in recent times to USD17-18/kg Ti, the same is about happening to molybdenum oxide as market participants reported of both Chilean and Chinese material being offered in warehouse Rotterdam for USD30-30.50/lb forcing European suppliers to fall in line.
An Estonia trader who bought one container of molybdenum oxide for USD32.50/lb two weeks ago reportedly received three offers of molybdenum oxide for USD30.50/lb in warehouse Rotterdam.
“The market is quiet with many offers from Chilean, Chinese and European suppliers now at USD30-30.50/lb indicating the market is softening,” said the trader. “As I plan to go to the market in two weeks, the price might even be much lower than it’s being offered now.”
An Indian trader confirmed the softening price for the material but added: “The diminishing fortune of ferromolybdenum in the market in recent weeks also has an indirect effect since molybdenum oxide is derived demand.”
“With the abundance of Chilean and Chinese material in the market, coupled with a generally weak demand from end-users, the effect is no less obvious,” concluded the trader.
An Estonia trader who bought one container of molybdenum oxide for USD32.50/lb two weeks ago reportedly received three offers of molybdenum oxide for USD30.50/lb in warehouse Rotterdam.
“The market is quiet with many offers from Chilean, Chinese and European suppliers now at USD30-30.50/lb indicating the market is softening,” said the trader. “As I plan to go to the market in two weeks, the price might even be much lower than it’s being offered now.”
An Indian trader confirmed the softening price for the material but added: “The diminishing fortune of ferromolybdenum in the market in recent weeks also has an indirect effect since molybdenum oxide is derived demand.”
“With the abundance of Chilean and Chinese material in the market, coupled with a generally weak demand from end-users, the effect is no less obvious,” concluded the trader.
