FeMo participants holding off in Europe

BEIJING (Asian Metal) 14 Apr 06 – Yesterday, ferromolybdenum market was quiet, and there has not been much change with both buyers and sellers are holding off and being cautious. Whilst sellers are still positioning, buyers have either gone on holiday or are waiting to hear of lower prices concluded.

Whilst 60%min material is concluding in the range USD52-53/kg Mo d.u., 65%min material is being traded for USD52-54/kg Mo d.Asian Metal Copyright50-22.Asian Metal Copyrightp.Asian Metal Copyrightu.Asian Metal Copyright, An official of a trading group reportedly sold less than 20t of 60%min material for USD53.25/kg Mo d.Asian Metal Copyright”.Asian Metal Copyrightu. but sold 25t of 65%min min material for USD52/kg Mo d.Asian Metal Copyright The trader reported selling 10t of 65%min grade material for USD53.Asian Metal Copyrightp.Asian Metal Copyright50-54.Asian Metal Copyright in warehouse Rotterdam for prompt delivery, meaning western material is softening faster than the Chinese material.Asian Metal Copyright70lb, reportedly sold 20t and 10t of 60%min and 65%min materials for USD53kg Mo d.Asian Metal Copyright

For prompt delivery, a trader who observed price could drop further in the coming week, just as molyoxide is dropping now in the range USD22.50-22.70/lb, reportedly sold 20t and 10t of 60%min and 65%min materials for USD53/kg Mo d.Asian Metal Copyright, 65%min material is being traded for USD52-54kg Mo d.Asian Metal Copyrightu. and USD54/kg Mo d.Asian Metal Copyright90lb thinks ferromolybdenum consumption would remain stable, which should translate to a little higher prices, but nothing dramatic.Asian Metal Copyrightp.Asian Metal Copyright50kg Mo d.Asian Metal Copyright respectively, in addition to a 20t deal concluded at USD52.50/kg Mo d.Asian Metal CopyrightAnother trader reported lot of enquiries were received but little business was done, and the market remained quiet and prices stable in the range USD52.Asian Metal Copyrightp.Asian Metal Copyright, An official of a trading group reportedly sold less than 20t of 60%min material for USD53.Asian Metal Copyright for May delivery.

The source argued that primary producers like Climax Molybdenum have enough material to sell although business is difficult for converters to do at the current mainstream prices around USD52-54/kg Mo d.p.Asian Metal Copyright The source who also received molyoxide offer from Chinese suppliers for USD22.Asian Metal Copyright given the price of molyoxide around USD22.80/lb.Asian Metal Copyright50kg Mo d.Asian Metal Copyright

Another trader reported lot of enquiries were received but little business was done, and the market remained quiet and prices stable in the range USD52.50-54.50/kg Mo d.Asian Metal Copyrightp.Asian Metal Copyrightp.Asian Metal Copyright although he heard deals at lower prices.Asian Metal Copyright and d.Asian Metal Copyrightp.Asian Metal Copyrightu.Asian Metal Copyright The trader reported selling 10t of 65%min grade material for USD53.Asian Metal Copyright The trader reported selling 10t of 65%min grade material for USD53.50/kg Mo d.Asian Metal Copyright50kg Mo d.Asian Metal Copyrightp.Asian Metal Copyrightu.Asian Metal Copyright although he heard deals at lower prices.Asian Metal Copyrightp.Asian Metal Copyright

The source who also received molyoxide offer from Chinese suppliers for USD22.90/lb thinks ferromolybdenum consumption would remain stable, which should translate to a little higher prices, but nothing dramatic.Asian Metal Copyright for May delivery.Asian Metal Copyright He added that in the past few weeks, many shortened the market, thinking “the price was going to fall dramatically, but now, there is nothing of such, which is a good support for the market.”