Chinese wrought molybdenum bar market appears slow

Along with the price decrease of molybdenum bar, the export market of molybdenum bar has slowed down.

A Liaoning-based smelter, with the current output of over 100tpm of molybdenum bar, keeps offering USD73.6-73.9/kg for wrought molybdenum bar depending on the quantity and delivery time. "The market appears not as active as two weeks ago, and buyers ask for low prices now," said the source. "We offered USD73.6/kg to a customer, but received the counteroffer of USD73.3/kg, and now the deal is under negotiation."

Meanwhile, a Guangdong-based smelter told Asian Metal that the market actually appears a little bit quiet at present. "We received few enquiries, and it is totally not active," said the source. The suppliers lowered their offers from USD73.5/kg to USD72.5/kg to attract buying interest. "This is our bottom line, but buyers are still holding back, for many of them have purchased large quantity of material for stocking."

A European buyer also confirmed that they have been well covered at present and has little intention to purchase in the near future. "We received offers in the range of USD73-73.5/kg, but could get the material at below USD73/kg," said the source. "Since the price is moving down, we may keep watching for some time."