8 Jul 10 – Most producers are offering RMB127,000-128,000/t (USD31
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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Friday, July 9, 2010
Ferromolybdenum market still dull in China
Posted by Metal Supplier at 1:37 AM
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