Friday, July 09, 2010
Ferromolybdenum market still dull in China
8 Jul 10 – Most producers are offering RMB127,000-128,000/t (USD31.13-31.37/kg Mo) for ferromolybdenum 60% at present, and the buying activities have not recovered yet with a few deals concluded.
A Liaoning-based producer, with a production capacity of 270tpm, is offering RMB127,000-128,000/t (USD31.13-31.37/kg Mo) for ferromolybdenum 60% for the moment, and there were some dealers from South China bought several small tonnages of the materials in the past three days.
"All the deals were small-sized and less than 10t," said the source, confirming that demand from downstream buyers is still slow and dull.
Another Liaoning-based producer is offering RMB128,000/t for ferromolybdenum 60% at the present and refuse to accept RMB126,000/t (USD30.88/kg Mo) for the time being, while another official from this company disclosed to Asian Metal that most staffs are on holiday because of the slow situation of molybdenum market.
"We have stopped production for about one month and are selling the stockpiles," said the source. "When will we come to work depends on the market trend." The official revealed that the summer season used to be dull in the past years, and he predicted the ferromolybdenum price may go down further in the coming two weeks.
Asian Metal learnt that Baosteel opened a tender early this week, with the concluded price at RMB124,500/t (USD30.51/kg Mo) for 100t of ferromolybdenum 60%, while the last tender was concluded at RMB127,000/t (USD31.13/kg Mo) late June.
A Liaoning-based producer, with a production capacity of 270tpm, is offering RMB127,000-128,000/t (USD31.13-31.37/kg Mo) for ferromolybdenum 60% for the moment, and there were some dealers from South China bought several small tonnages of the materials in the past three days.
"All the deals were small-sized and less than 10t," said the source, confirming that demand from downstream buyers is still slow and dull.
Another Liaoning-based producer is offering RMB128,000/t for ferromolybdenum 60% at the present and refuse to accept RMB126,000/t (USD30.88/kg Mo) for the time being, while another official from this company disclosed to Asian Metal that most staffs are on holiday because of the slow situation of molybdenum market.
"We have stopped production for about one month and are selling the stockpiles," said the source. "When will we come to work depends on the market trend." The official revealed that the summer season used to be dull in the past years, and he predicted the ferromolybdenum price may go down further in the coming two weeks.
Asian Metal learnt that Baosteel opened a tender early this week, with the concluded price at RMB124,500/t (USD30.51/kg Mo) for 100t of ferromolybdenum 60%, while the last tender was concluded at RMB127,000/t (USD31.13/kg Mo) late June.
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