Will FeMo market remain strong and stable?

BEIJING (Asian Metal) 6 Feb 06 – At the close of business last week, ferromolybdenum market remained strong and stable in the range USD61-62/kg Mo d.u. and USD62-64/kg Mo d.Asian Metal CopyrightAnother trader shared the same views.Asian Metal Copyrightp.Asian Metal CopyrightWith several tons of both ferromolybdenum 65%min and 60%min grades concluded last Friday in the range USD61-64kg Mo in warehouse Rotterdam for prompt delivery opinions are divided as what directions participants should expect in the days ahead.Asian Metal Copyright, although the direction it will take in the coming days will become clear as Chinese are back from their week-long holiday.

With several tons of both ferromolybdenum 65%min and 60%min grades concluded last Friday in the range USD61-64/kg Mo in warehouse Rotterdam for prompt delivery opinions are divided as what directions participants should expect in the days ahead. A trader who sold 20t of ferromolybdenum 65%min at USD62.50/kg Mo d.Asian Metal Copyright “As Chinese return to the market this week, there will be many unsolicited offers, which is already happening,” argued the trader who sold 20t of ferromolybdenum 60%min for USD61.Asian Metal Copyrightp.Asian Metal Copyright “Now production is going on and everybody has to buy for March since many end-users want to avoid the high price they paid last year when they were on long-term contract,” opined the trader who sold a container of ferromolybdenum 65%min for USD63.Asian Metal Copyright and also 20t of molyoxide at USD26.50/lb last Friday believes the market will still be active in the next two weeks.Asian Metal Copyright “Market will be active and strong because a representative of a major European molyoxide producer informed me there is not much material now and JDC in China have their material tied up till the second half of March,” said the trader.Asian Metal Copyright “Market will be active and strong because a representative of a major European molyoxide producer informed me there is not much material now and JDC in China have their material tied up till the second half of March,” said the trader.Asian Metal Copyright50kg Mo d.Asian Metal Copyright

Another trader shared the same views. “Now production is going on and everybody has to buy for March since many end-users want to avoid the high price they paid last year when they were on long-term contract,” opined the trader who sold a container of ferromolybdenum 65%min for USD63.50/kg Mo d.Asian Metal CopyrightIn the US market, ferromolybdenum market is reportedly slow with deals concluded around USD28lb or USD61kg whilst mainstream price for molyoxide stood USD25lb.Asian Metal Copyrightp.Asian Metal Copyright “Market will be active and strong because a representative of a major European molyoxide producer informed me there is not much material now and JDC in China have their material tied up till the second half of March,” said the trader.Asian Metal Copyright in warehouse Rotterdam for prompt delivery.Asian Metal Copyright “Market will be active and strong because a representative of a major European molyoxide producer informed me there is not much material now and JDC in China have their material tied up till the second half of March,” said the trader.Asian Metal Copyright

Although he believes end-users will continue to live with high prices of ferromolybdenum, a European trader thinks Chinese material will soften in the coming weeks. “As Chinese return to the market this week, there will be many unsolicited offers, which is already happening,” argued the trader who sold 20t of ferromolybdenum 60%min for USD61.50/kg Mo d.Asian Metal Copyright, although the direction it will take in the coming days will become clear as Chinese are back from their week-long holiday.Asian Metal Copyrightu.Asian Metal CopyrightAlthough he believes end-users will continue to live with high prices of ferromolybdenum, a European trader thinks Chinese material will soften in the coming weeks.Asian Metal Copyright last Friday. “Whenever traders and or end-users receive more unsolicited offers, price is bound to fall,” concluded the trader who refused a container offer of the material at USD59/kg Mo d.Asian Metal Copyrightp.Asian Metal Copyrightu.Asian Metal CopyrightAlthough he believes end-users will continue to live with high prices of ferromolybdenum, a European trader thinks Chinese material will soften in the coming weeks.Asian Metal Copyright because the market is highly unpredictable, more so as Chinese return to the market this week.

In the US market, ferromolybdenum market is reportedly slow with deals concluded around USD28/lb or USD61/kg whilst mainstream price for molyoxide stood USD25/lb.