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    Chinese ferromolybdenum market rebound

    2006-04-17 13:36:42   【Print】

    BEIJING (Asian Metal) 17 Apr 06 - Chinese ferromolybdenum market remained slow in the past few weeks, but last Friday participants reported that the market rebounded, with prices increasing from RMB265,000-270,000/t(USD55-56/kg) to RMB270,000-275,000/t(USD56-57/kg).

    A Liaoning-based ferromolybdenum smelter who sold about 20t of ferromolybdenum 60% for RMB273,000/t(USD56.7/kg) believes that the market has really rebounded. "We sold ferromolybdenum for RMB265,000/t early last week, but now we quote RMB275, 000/t.Asian Metal Copyright7kg now, but without confirmation.Asian Metal Copyright" said the producer.Asian Metal Copyright Most Chinese ferromolybdenum producers now sell ferromolybdenum for around RMB275,000t, and another Liaoning-based smelter , with a production capacity of 300tpm of ferromolybdenum, sold about 60t of the material for RMB275,000t and now quotes RMB278,000t for another batch of the material.Asian Metal Copyright "I think it is because of May Day holiday."

    Meanwhile, another Liaoning-based smelter, with a production capacity of 6,000tpy of ferromolybdenum, who sold a batch of ferromolybdenum for USD54/kg in Rotterdam warehouse for prompt delivery now quotes RMB275,000/t for the material on Chinese domestic markets. "You can not find the material below RMB270,000/t now," said the producer.

    Meanwhile, a Jiangsu-based smelter who just sold about 40t of ferromolybdenum for RMB275,000/t believes that Chinese ferromolybdenum market will keep firming up in the coming ten days. According to the source, some major steel mills have purchased about 700t of ferromolybdenum these days, such as Bao Steel, which reportedly purchased about 300t of ferromolybdenum for RMB275,000/t. Some deals even have reportedly been concluded at RMB280,000/t(USD57.7/kg) now, but without confirmation.

    Most Chinese ferromolybdenum producers now sell ferromolybdenum for around RMB275,000/t, and another Liaoning-based smelter , with a production capacity of 300tpm of ferromolybdenum, sold about 60t of the material for RMB275,000/t and now quotes RMB278,000/t for another batch of the material.

    .Asian Metal Copyright Most Chinese ferromolybdenum producers now sell ferromolybdenum for around RMB275,000t, and another Liaoning-based smelter , with a production capacity of 300tpm of ferromolybdenum, sold about 60t of the material for RMB275,000t and now quotes RMB278,000t for another batch of the materialAsian Metal Copyright
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