3 Feb 10- According to producers, there are no cheap molybdenum concentrate and molyoxide in China now, and raw material suppliers refuse to low their offers before New Year holiday, with the mainstream prices in the range of RMB2,100-2,150/mtu (USD13.95-14.28/lb) for molybdenum concentrate 45% now. In view of the stable situation of raw material, Chinese ferromolybdenum producers hold their offers recently, and the mainstream prices of ferromolybdenum 60% kept stable in the range of RMB140,000-145,000/t (USD34.16-35.40/kg Mo) this week though some reduced their offers from RMB145,000/t (USD35.40/kg Mo) to RMB142,000-143,000/t (USD34.65-34.90/kg Mo) early this week.
Asianmetal(English) http://www.asianmetal.com IV42
With a production capacity of 250tpm of ferromolybdenum, a producer from Liaoning insisted on offering RMB145,000/t (USD35.40/kg Mo) for ferromolybdenum 60% these two days. Though there are few enquiries from traders these two weeks, he is unwilling to reduce the quotations in the near term.
Asianmetal(English) http://www.asianmetal.com QNP8
"I think ferromolybdenum market will keep stable before the New Year, and it seems to be bottom out," said the source, with 100t of spot inventories in hand for the moment. Furthermore, the source bought 50t of molybdenum concentrate 43% at RMB2,100/mtu (USD13.95/lb) yesterday. This batch of raw material will not be used before the holiday, added the source.
Asianmetal(English) http://www.asianmetal.com 5997
Another Liaoning-based producer with a production capacity of 100tpm offers RMB145,000/t (USD35.40/kg Mo) for ferromolybdenum 60% for the moment, unchanged these two days. "The cost should be at RMB144,000/t (USD35.14/kg Mo) for ferromolybdenum 60% according to the prices of molybdenum raw materials," said the source.
Asianmetal(English) http://www.asianmetal.com LI35
The source confirmed that some producers are selling ferromolybdenum 60% at RMB140,000/t (USD34.16/kg Mo) now, but most have molybdenum mine themselves or enough cheap raw materials. Predicting that ferromolybdenum market will keep stable in the coming days, he refuses to reduce offers.
Tuesday, February 2, 2010
Chinese ferromolybdenum traders refuse to refill inventories as steel mills maintain
2 Feb 10- According to traders, some local steel mills are overhauling now and may resume production after Spring Festival, so they will not refill their inventories in the near term.
Asianmetal(English) http://www.asianmetal.com FPBN
A Henan-based trader with 30t of ferromolybdenum in hand shared with Asian Metal that Anyang Iron & Steel has been overhauling since the beginning of February. "An official of this steel mill told me that they will resume production after Lantern Festival (February 28, 2010)," said the source.
Asianmetal(English) http://www.asianmetal.com 53F0
As a result, the source refuses to refill inventories in the near term since he is not sure when his customers will purchase raw material during the Spring Festival holiday. The purchase cost of the stocks is around RMB125,000/t (USD30.50/kg Mo), and he is not under pressure to sell out now. Moreover, he received offers of ferromolybdenum 60% at RMB145,000/t (USD35.38/kg Mo) from a Liaoning-based producer yesterday, adding that the concluded prices should be below RMB145,000/t (USD35.38/kg Mo) currently.
Asianmetal(English) http://www.asianmetal.com 47PY
With a monthly trading volume of 5t of ferromolybdenum, a Fujian-based trader reported that he didn't purchase the material these two weeks and will not enter the market before Chinese New Year holiday.
Asianmetal(English) http://www.asianmetal.com JC0T
"I have no financial pressure now and am going to prepare my holiday," said the source, confirming that some of their customers stopped production at the end of last month and may resume production in March.
Asianmetal(English) http://www.asianmetal.com FPBN
A Henan-based trader with 30t of ferromolybdenum in hand shared with Asian Metal that Anyang Iron & Steel has been overhauling since the beginning of February. "An official of this steel mill told me that they will resume production after Lantern Festival (February 28, 2010)," said the source.
Asianmetal(English) http://www.asianmetal.com 53F0
As a result, the source refuses to refill inventories in the near term since he is not sure when his customers will purchase raw material during the Spring Festival holiday. The purchase cost of the stocks is around RMB125,000/t (USD30.50/kg Mo), and he is not under pressure to sell out now. Moreover, he received offers of ferromolybdenum 60% at RMB145,000/t (USD35.38/kg Mo) from a Liaoning-based producer yesterday, adding that the concluded prices should be below RMB145,000/t (USD35.38/kg Mo) currently.
Asianmetal(English) http://www.asianmetal.com 47PY
With a monthly trading volume of 5t of ferromolybdenum, a Fujian-based trader reported that he didn't purchase the material these two weeks and will not enter the market before Chinese New Year holiday.
Asianmetal(English) http://www.asianmetal.com JC0T
"I have no financial pressure now and am going to prepare my holiday," said the source, confirming that some of their customers stopped production at the end of last month and may resume production in March.
Magnesium ingot price slides down in Shanxi and Ningxia
1 Feb 10 – Except some smelters in Wenxi who still hold their price at around RMB16,300/t (USD2,387/t) ex works, many others from Shanxi and Ningxia have sold small batches of magnesium ingot at RMB16,050-16,200/t (USD2,350-2,372/t) ex works. According to sources, some have agreed to sell at RMB16,000/t (USD2,343/t) ex works since late last week.
Asianmetal(English) http://www.asianmetal.com E17E
A Ningxia-based producer, whose monthly output is around 400t at present, revealed to Asian Metal that they started to ink deals at RMB16,000/t (USD2,343/t) ex works with the offer at RMB16,100/t (USD2,357/t) ex works in the past one week. The concluded price has decreased by nearly RMB400/t (USD59/t) compared with that in the middle of last month.
Asianmetal(English) http://www.asianmetal.com N88S
The source, who has no stocks on hand now, anticipates that magnesium ingot price might dip further in the following one week. "As the price is on the decline, the transactions slow down. I think the price will drop to RMB15,800/t (USD2,313/t) ex works before the Spring Festival," the source said.
Asianmetal(English) http://www.asianmetal.com 4G2O
A Shanxi-based producer, who is operating with an output of 1,000tpm, confirmed that the price in local market is around RMB16,000-16,100/t (USD2,343-2,357/t) ex works at the moment. "We are unwilling to sell our magnesium ingot at such low prices for the time being, for we even can get little profit. We hold back from offering," the source explained. Most of their deals were closed at around RMB16,400/t (USD2,401/t) ex works in early January.
Asianmetal(English) http://www.asianmetal.com IQQK
The source, who is not in urgent need of cash, is watching the market and expects the price might decrease by another RMB200/t (USD29/t) in the following days. Meanwhile, the source disclosed that the price of ferrosilicon is RMB6,400/t (USD937/t) ex works, which is RMB100/t (USD15/t) lower than that of their last purchase in early last month. "The small decline in ferrosilicon price has not reduced our production cost a lot," the source lamented.
Asianmetal(English) http://www.asianmetal.com E17E
A Ningxia-based producer, whose monthly output is around 400t at present, revealed to Asian Metal that they started to ink deals at RMB16,000/t (USD2,343/t) ex works with the offer at RMB16,100/t (USD2,357/t) ex works in the past one week. The concluded price has decreased by nearly RMB400/t (USD59/t) compared with that in the middle of last month.
Asianmetal(English) http://www.asianmetal.com N88S
The source, who has no stocks on hand now, anticipates that magnesium ingot price might dip further in the following one week. "As the price is on the decline, the transactions slow down. I think the price will drop to RMB15,800/t (USD2,313/t) ex works before the Spring Festival," the source said.
Asianmetal(English) http://www.asianmetal.com 4G2O
A Shanxi-based producer, who is operating with an output of 1,000tpm, confirmed that the price in local market is around RMB16,000-16,100/t (USD2,343-2,357/t) ex works at the moment. "We are unwilling to sell our magnesium ingot at such low prices for the time being, for we even can get little profit. We hold back from offering," the source explained. Most of their deals were closed at around RMB16,400/t (USD2,401/t) ex works in early January.
Asianmetal(English) http://www.asianmetal.com IQQK
The source, who is not in urgent need of cash, is watching the market and expects the price might decrease by another RMB200/t (USD29/t) in the following days. Meanwhile, the source disclosed that the price of ferrosilicon is RMB6,400/t (USD937/t) ex works, which is RMB100/t (USD15/t) lower than that of their last purchase in early last month. "The small decline in ferrosilicon price has not reduced our production cost a lot," the source lamented.
Manganese Metals Flakes supply tight in Europe
3 Feb 10 - Manganese supply is a bit tight due to less import from China last year. The price in European spot market rises gradually and though the price drops much from Chinese suppliers, the market stays firm in Rotterdam for low availability of the material.
A European trader about to purchase 100 tons of manganese flakes and briquette told Asian Metal that the offer rises to above USD2,900/t in the spot market, from about USD2,800-2,850/t last month. "There are very few materials in the spot market, which pushes the price up," said the source, claiming the offer from China is decreasing as manganese market is in low performance in Chinese domestic market.
But as the supply is also not very sufficient in Chinese spot market, some suppliers are not ready to sell and expect manganese price to rebound again after the Spring Festival. The source placed an order for about 200 tons of manganese briquette from China at about USD2,400/t CIF Rotterdam.
Another European trader sold out their stocks of about 100 tons of manganese flakes at USD2,950/t d.d.u to a local buyer before the price decreases in China. "While the supply is very tight in the spot market, we do not expect manganese price to follow suit in the near term," said the source, reporting that buyers mostly purchase from hand to mouth but have to accept the higher price for lack of materials.
As some buyers have placed some orders in advance, manganese supply may improve gradually in the coming weeks, which may hinder the price from increasing further, and make buyers more reluctant to buy unless the demand is urgent.
A third European trader reported to Asian Metal that they made a deal of only 10 tons at USD3,000/t d.d.p for prompt delivery. There are some small deals made in European spot market at relatively much higher prices while the offer last month stayed about USD2,900/t in Rotterdam warehouse.
A European trader about to purchase 100 tons of manganese flakes and briquette told Asian Metal that the offer rises to above USD2,900/t in the spot market, from about USD2,800-2,850/t last month. "There are very few materials in the spot market, which pushes the price up," said the source, claiming the offer from China is decreasing as manganese market is in low performance in Chinese domestic market.
But as the supply is also not very sufficient in Chinese spot market, some suppliers are not ready to sell and expect manganese price to rebound again after the Spring Festival. The source placed an order for about 200 tons of manganese briquette from China at about USD2,400/t CIF Rotterdam.
Another European trader sold out their stocks of about 100 tons of manganese flakes at USD2,950/t d.d.u to a local buyer before the price decreases in China. "While the supply is very tight in the spot market, we do not expect manganese price to follow suit in the near term," said the source, reporting that buyers mostly purchase from hand to mouth but have to accept the higher price for lack of materials.
As some buyers have placed some orders in advance, manganese supply may improve gradually in the coming weeks, which may hinder the price from increasing further, and make buyers more reluctant to buy unless the demand is urgent.
A third European trader reported to Asian Metal that they made a deal of only 10 tons at USD3,000/t d.d.p for prompt delivery. There are some small deals made in European spot market at relatively much higher prices while the offer last month stayed about USD2,900/t in Rotterdam warehouse.
Antimony trioxide,Antimony ingot export price stays high
3 Feb 10 – Antimony trioxide export price remains stable at a comparatively high level. Most suppliers are quoting at USD6,100/t FOB China, but some others would like to hold their prices a little higher than this popular offer.
A Hunan-based supplier, whose monthly trading volume is about 100-200t, revealed to Asian Metal that they are offering at USD6,100/t FOB China. Despite they can accept the price a bit lower than the offer, there still have not been any deals concluded yet. "Overseas buyers are reluctant to purchase in view of such a high price," the source explained, adding that some foreign customers are active in checking the price.
The source believes that antimony trioxide price will keep on this level in February due to the high price of antimony ingot, the raw material. "I guess it is unlikely for the price to slide down before the Spring Festival, and it might also stay firm for several days when we return after the holiday," the source said.
Another supplier also from Hunan, who sells about 200t of antimony trioxide every month to overseas market, claimed they insist on holding at USD6,150/t FOB China at present. "We have sold a little antimony trioxide at this price. Meanwhile, we are fulfilling some contracts signed in the middle of last month at around USD5,850/t FOB China," the source said.
"Because of the high replacement cost, we have to keep our price firm. I think some buyers who really need antimony trioxide will purchase although the price is high, for they have to maintain their production," the source said, expecting the price to be stable at least this month.
A Hunan-based supplier, whose monthly trading volume is about 100-200t, revealed to Asian Metal that they are offering at USD6,100/t FOB China. Despite they can accept the price a bit lower than the offer, there still have not been any deals concluded yet. "Overseas buyers are reluctant to purchase in view of such a high price," the source explained, adding that some foreign customers are active in checking the price.
The source believes that antimony trioxide price will keep on this level in February due to the high price of antimony ingot, the raw material. "I guess it is unlikely for the price to slide down before the Spring Festival, and it might also stay firm for several days when we return after the holiday," the source said.
Another supplier also from Hunan, who sells about 200t of antimony trioxide every month to overseas market, claimed they insist on holding at USD6,150/t FOB China at present. "We have sold a little antimony trioxide at this price. Meanwhile, we are fulfilling some contracts signed in the middle of last month at around USD5,850/t FOB China," the source said.
"Because of the high replacement cost, we have to keep our price firm. I think some buyers who really need antimony trioxide will purchase although the price is high, for they have to maintain their production," the source said, expecting the price to be stable at least this month.
Monday, January 25, 2010
Manganese flakes market still firm in China
21 Jan 10 – It is reported that manganese market remains firm in China, and many inquiries are received and most smelters are fulfilling some orders singed before, however, consumers start to be cautious to buy more this week.
Asianmetal(English) http://www.asianmetal.com 254R
A Hunan-based manganese flake buyer, with an output of manganese briquette of 700-800tpm, reported to Asian Metal that manganese flake price is RMB15,600-15,700/t (USD2,284-2,299/t) ex works, and he does not want to replenish stocks for the moment at current price. "I heard that few smelters start to sell at RMB15,500/t (USD2,269/t) ex works on Tuesday. Although smelters received some inquiries, it is difficult for manganese flake price to go up," said the source.
Asianmetal(English) http://www.asianmetal.com 52P2
According to the source, even if some inquiries from overseas market are received, foreign consumers do not accept the price and no export deals are concluded. The source gave an offer for manganese flake USD2,850-2,900/t FOB and offers for manganese briquette USD2,400/t FOB.
Asianmetal(English) http://www.asianmetal.com MQ00
A Hunan-based manganese flake smelter, who has an output of 600tpm and usually buys 300t to process manganese ingot, reported to Asian Metal that he sold 100t manganese flake at RMB15,800/t (USD2,313/t) ex works, and many inquiries from consumers are received. He added that the trading volume is larger than before. "However, some smelters in Jishou start to sell at about RMB15,600/t (USD2,284/t) ex works, I think it is difficult for the price to rise further," said the source.
Asianmetal(English) http://www.asianmetal.com 4A4Y
According to the source, he still holds 400-500t stocks to maintain the process of manganese ingot, and is fulfilling some orders of manganese ingot with steel mills signed at RMB16,900/t (USD2,474/t) ex works.
Asianmetal(English) http://www.asianmetal.com 254R
A Hunan-based manganese flake buyer, with an output of manganese briquette of 700-800tpm, reported to Asian Metal that manganese flake price is RMB15,600-15,700/t (USD2,284-2,299/t) ex works, and he does not want to replenish stocks for the moment at current price. "I heard that few smelters start to sell at RMB15,500/t (USD2,269/t) ex works on Tuesday. Although smelters received some inquiries, it is difficult for manganese flake price to go up," said the source.
Asianmetal(English) http://www.asianmetal.com 52P2
According to the source, even if some inquiries from overseas market are received, foreign consumers do not accept the price and no export deals are concluded. The source gave an offer for manganese flake USD2,850-2,900/t FOB and offers for manganese briquette USD2,400/t FOB.
Asianmetal(English) http://www.asianmetal.com MQ00
A Hunan-based manganese flake smelter, who has an output of 600tpm and usually buys 300t to process manganese ingot, reported to Asian Metal that he sold 100t manganese flake at RMB15,800/t (USD2,313/t) ex works, and many inquiries from consumers are received. He added that the trading volume is larger than before. "However, some smelters in Jishou start to sell at about RMB15,600/t (USD2,284/t) ex works, I think it is difficult for the price to rise further," said the source.
Asianmetal(English) http://www.asianmetal.com 4A4Y
According to the source, he still holds 400-500t stocks to maintain the process of manganese ingot, and is fulfilling some orders of manganese ingot with steel mills signed at RMB16,900/t (USD2,474/t) ex works.
Antimony trioxide,Antimony ingot prices jumping
Along with the antimony ingot price skyrocketing, the price of antimony trioxide has jumped rapidly in recent one week. Some producers reported that they have sold small batches of antimony trioxide at around RMB40,500-41,000/t (USD5,930-6,003/t) ex works late this week. Meanwhile, the export offer for the material has increased to USD6,100/t FOB China.
A major producer from South China, whose monthly output is around 300-400t at present, confirmed that they just concluded a small deal at RMB41,500/t (USD6,076/t) delivered to Shanghai, which is RMB500-1,000/t (USD73-146/t) higher than the price early this week. "I may not accept current price this week. The price of antimony trioxide is changing every day," the source added.
The source is also fulfilling some contracts signed in December at around RMB38,000/t (USD5,564/t) ex works. "I think the price will keep rocketing in the coming days, because the supply constraints have not alleviated at all," the source said, showing his confidence in the short-term market of antimony trioxide.
A supplier based in South China, who usually exports through trading companies, claimed that they are offering at USD6,100/t FOB China, and have sold some of the material at USD6,050/t FOB China this week, which is nearly USD200/t up compared with that early this month. "The price of antimony ingot is still on the rise which increase our production cost, so we have to lift our price accordingly," the source explained.
The source complained the spot availability of antimony ingot is rather limited, and they can not purchase enough material at one time. "I think the price of antimony trioxide will go on rising in the next few days before the holiday due to current market situation," the source said.
A major producer from South China, whose monthly output is around 300-400t at present, confirmed that they just concluded a small deal at RMB41,500/t (USD6,076/t) delivered to Shanghai, which is RMB500-1,000/t (USD73-146/t) higher than the price early this week. "I may not accept current price this week. The price of antimony trioxide is changing every day," the source added.
The source is also fulfilling some contracts signed in December at around RMB38,000/t (USD5,564/t) ex works. "I think the price will keep rocketing in the coming days, because the supply constraints have not alleviated at all," the source said, showing his confidence in the short-term market of antimony trioxide.
A supplier based in South China, who usually exports through trading companies, claimed that they are offering at USD6,100/t FOB China, and have sold some of the material at USD6,050/t FOB China this week, which is nearly USD200/t up compared with that early this month. "The price of antimony ingot is still on the rise which increase our production cost, so we have to lift our price accordingly," the source explained.
The source complained the spot availability of antimony ingot is rather limited, and they can not purchase enough material at one time. "I think the price of antimony trioxide will go on rising in the next few days before the holiday due to current market situation," the source said.
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