BEIJING (Asian Metal) 13 Aug 19 – Currently, mainstream prices for European ferromolybdenum 65%min stand at USD27.1-27.6/kg Mo in warehouse Rotterdam, down by USD0.2/kg Mo from last week. Most market participants are taking summer vacation now and the market keeps quiet. Insiders believe prices of ferromolybdenum would stay steady in the coming week.
A trader in West Europe quotes their ferromolybdenum 65%min at USD27.6/kg Mo in warehouse Rotterdam and can accept at USD27.5/kg Mo for firm bids, down by USD0.1/kg Mo from last week. “Most of our clients are taking the summer holiday now and inquiries are hard to see. We are watching the market now,” said the source. Their last deal was made early last week, when they sold 10t at USD27.5/kg Mo. Consideing inquiries are rare, he believes prices of ferromolybdenum would stay weak steady in the coming week.
With a regular trading volume of 60tpm for ferromolybdenum, they sold 600t last year and have finished 350t this year. They sold 50t in July and expect to sell 30t in August, holding 15t of stocks now.
A trader in South Europe quotes their ferromolybdenum 65%min at USD27.5/kg Mo in warehouse Rotterdam at the moment. Their last deal was made late last week, when they sold 20t at USD27.3/kg Mo, down by USD0.2/kg Mo from one week ago. “The buyer is our regular client. Considering their purchase volume is considerable, we gave them a substantial discount,” said the source. He added, “We have no stock pressure now, so we are in no hurry to accept orders at lower price level.” He believes prices of ferromolybdenum would keep steady in the coming week.
With a regular trading volume of 50tpm for ferromolybdenum, they sold 400t in 2018 and have sold 200t this year. They expect to sell 40t in August, down by 10t from July for summer holiday, holding 5t of stocks now.
www.asianmetal.com
