Date: Dec 11, 2018
BEIJING (Asian Metal) 11 Dec 18 – Currently, mainstream prices for Chinese ferromolybdenum 60%min drop to RMB125,000-127,000/t (USD30.14-30.63/Kg Mo) Inc-VAT EXW D/P, down by RMB2,000/t (USD0.48/Kg Mo) from early last week. As prices of the raw material molybdenum concentrate only edged down, most ferromolybdenum producers refuse to decrease their prices anymore. Insiders believe prices of Chinese ferromolybdenum has touched the bottom and would be steady in the coming week.
A producer in South China quotes their ferromolybdenum 60%min at RMB125,500/t (USD30.26/Kg Mo) at present, down by RMB1,500/t (USD0.36/Kg Mo) from last week. “We just sold 10t at RMB125,000/t (USD30.14/Kg Mo) to a regular client this Monday. I believe the price won’t be lower as prices of the raw material keep high,” said the source. He added, the quotes he received for raw material molybdenum concentrate 45%min are at least RMB1,900/mtu (USD12.50/lb Mo). Considering mine companies have little inventory, he believes prices of Chinese ferromolybdenum and molybdenum concentrate would both be steady in the coming week.
