Demand of ferromolybdenum slow in South Korea
2009-08-12 09:54:37 【Print】
BEIJING (Asian Metal) 12 Aug 09 – Demand from the steel mills appears slow this week, and the ferromolybdenum price increasing also slows down. However, participants indicated affected by the international market, the price may continue to increase in the coming days.
A smelter in South Korea supplied about 20t of ferromolybdenum 60% at USD41.49/kg to POSCO last week. They also sold about 20t of molybdenum oxide at USD18/Ib to local customers, believing the market appears flat this week for the demand from the steel mills becomes slow.
"I’m not sure the market trend in the coming days while I think the general demand remains getting better," said the source. "So the price may keep the uptrend."
The smelter also remarked they have the summer holiday in Aug, while it will not affect the market.
Another smelter in South Korea, with about 20t of ferromolybdenum in stock, offers around USD43/kg for ferromolybdenum 60% to customers in retail market currently.
They also have attended the tender of POSCO last week while they could not accept the purchase price below USD43/kg for ferromolybdenum 60%. "I think the current price in retail market is around USD43/kg," said the source. "The demand becomes slow this week, and there are no tenders from the steel mills currently. However, the price may increase slowly in the coming days pushed by the international market."
