8 Jul 10 – Most producers are offering RMB127,000-128,000/t (USD31.13-31.37/kg Mo) for ferromolybdenum 60% at present, and the buying activities have not recovered yet with a few deals concluded.
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.
Friday, July 9, 2010
Manganese flake price slides down further
7 Jul 10 – Participants reported to Asian Metal that manganese flake price dips further in China, and more and more manganese flake smelters intend to stop producing. The policy of the increasing power price has not been settled yet in Hunan and Guangxi etc.
A source from a manganese flake smelter in Hunan province revealed to Asian Metal that he has been out of production so far, and the manganese flake market continued the down-moving trend from early this week with the price dropping by about RMB 100/t (USD15/t) to RMB14,600-14,700/t (USD2,138-2,152/t) ex works. "I still hold large stock on hand, but don't want to sell at current price," shared the source, with a monthly output of 1,000t of manganese flake.
Putting export offer for manganese flake at about USD2,780/t FOB China at the moment, the source claimed that the demand from overseas market is still weak. Although the operating rate of manganese smelters in China is low, foreign customers are still not eager to place orders.
With an output of about 2,000tpm of manganese flake, another source from a manganese smelter in Hunan disclosed to Asian Metal that manganese flake price slides down to about RMB14,600/t (USD2,138/t) ex works from RMB14,800/t (USD2,167/t) ex works early this week. "It is difficult for buyers to accept the price of RMB14,700/t (USD2,152/t) ex works, and it will continue to take the down-moving trend," said the source.
The source is just fulfilling some long-term orders with steel mills signed before, but claimed that the trading volume is decreasing constantly. At the same time, he is about to decrease production for the low demand. It is expected that the domestic manganese market will remain quiet in the rest of the month.
Manganese flake market quiet with the low operating rate
9 Jul 10 – More and more manganese flake smelters intend to stop producing, and the Chinese manganese market is still in thin trading. There is no signal for the demand to recover, and the manganese flake price is on the decline.
A source from a manganese flake smelter in Hunan, with an output of about 2,000tpm, revealed to Asian Metal that manganese flake price is about RMB14,600/t (USD2,138/t) ex works in China, and the smelter has been out of production so far. "Most steel mills consumers don't want to buy any more, expecting the price to dip further, and only few deals are concluded," shared the source.
Putting the export offer at about USD2,780/t FOB China for manganese flake, the source has no order these two weeks. Holding manganese flake and manganese briquette about 1,000t respectively in Rotterdam warehouse, he quotes around USD2,800/t and USD2,500/t for manganese flake and manganese briquette in local place.
Another Hubei-based source from a manganese flake smelter, with an output of about 5,400tpm, disclosed to Asian Metal that he has decreased the production to about 3,000tpm for the low demand, and the current manganese flake price is about 14,700/t (USD2,152/t) ex works. "I have some long-term orders signed with steel mills to fulfill, but generally speaking, the domestic market remains quiet with the low operating rate," said the source.
The source does not sign any export order of manganese flake this week with the price of about USD2,750/t FOB China, but he is negotiating with a foreign customer about a long-term order of manganese lump 95%min, and wants to make the deal at about USD2,900/t FOB China main port.
Antimony ingot supply tight
7 Jul 10 – Sources revealed that antimony ingot supply is very tight in Chinese spot market. Some antimony ingot exporters stopped offering and antimony trioxide producers are reluctant to accept new orders as they can not get antimony ingot.
An antimony trioxide producer based in Guangxi, with an output of around 1,000tpm, reported that they sold tens of tons of antimony trioxide 99.8%min at RMB52,000-52,500/t ex works late last week. They raised their price to RMB53,000/t ex works for antimony trioxide 99.8%min as antimony ingot price is rising.
"We mainly purchase high grade antimony ingot from Hunan to produce antimony trioxide 99.8%min. This week, our suppliers in Hunan raised their prices to RMB58,500-59,000/t ex works for antimony ingot, and they only sell limited amount to their long-term customers" said the source. The source turned down some orders from new consumers as they do not have much of antimony ingot at hand and can not get the material from their suppliers.
Another antimony trioxide producer based in Guangxi, who has an output of around 200tpm, confirmed that antimony ingot supply is very tight in domestic market, and told Asian Metal that their long-term suppliers in Hunan offered them RMB58,500-59,000/t ex works for antimony ingot this week. "We sold antimony trioxide 99.8%min at RMB53,000-54,000/t ex works," remarked the source.
According to the source, two of the major antimony products producers in Hunan sold around 1,800t of antimony ingot to ease the pressure of capital turnover when the price was decreasing from RMB58,000/t to RMB53,000/t ex works in June. "Many antimony ingot producers in Hunan do not have much of the material at hand, so they raise the prices crazily," said the source. Additionally, Guangxi was hit by rainstorm during last month, and the output of antimony concentrate in Guangxi was affected to some extend. Therefore, antimony ingot supply is tight in domestic market.
Close sources reported to Asian Metal that some antimony ingot exporters suspend offering as they can not get the material in domestic market.
An antimony trioxide producer based in Guangxi, with an output of around 1,000tpm, reported that they sold tens of tons of antimony trioxide 99.8%min at RMB52,000-52,500/t ex works late last week. They raised their price to RMB53,000/t ex works for antimony trioxide 99.8%min as antimony ingot price is rising.
"We mainly purchase high grade antimony ingot from Hunan to produce antimony trioxide 99.8%min. This week, our suppliers in Hunan raised their prices to RMB58,500-59,000/t ex works for antimony ingot, and they only sell limited amount to their long-term customers" said the source. The source turned down some orders from new consumers as they do not have much of antimony ingot at hand and can not get the material from their suppliers.
Another antimony trioxide producer based in Guangxi, who has an output of around 200tpm, confirmed that antimony ingot supply is very tight in domestic market, and told Asian Metal that their long-term suppliers in Hunan offered them RMB58,500-59,000/t ex works for antimony ingot this week. "We sold antimony trioxide 99.8%min at RMB53,000-54,000/t ex works," remarked the source.
According to the source, two of the major antimony products producers in Hunan sold around 1,800t of antimony ingot to ease the pressure of capital turnover when the price was decreasing from RMB58,000/t to RMB53,000/t ex works in June. "Many antimony ingot producers in Hunan do not have much of the material at hand, so they raise the prices crazily," said the source. Additionally, Guangxi was hit by rainstorm during last month, and the output of antimony concentrate in Guangxi was affected to some extend. Therefore, antimony ingot supply is tight in domestic market.
Close sources reported to Asian Metal that some antimony ingot exporters suspend offering as they can not get the material in domestic market.
Antimony ingot producer eager to buy antimony concentrate
8 Jul 10 – Antimony ingot producers reported that they are eager to buy in antimony concentrate as they received many orders, but do not have antimony concentrate in stock..
A Yunnan-based antimony ingot producer told Asian Metal that they sold around 220t of antimony ingot 99.85%min at RMB56,000-58,000/t ex works early this week, and have around 200t of the material at hand at present. "We receive many orders this week, but do not have much of antimony concentrate to produce more antimony ingot, so we are eager to purchase antimony concentrate," said the source.
According to the source, they mainly purchase antimony concentrate with more than 30%min antimony, and accept cash payment if only the supplier supplies spot goods with good quality and large quantity.
An antimony ingot producer based in Guangxi revealed that they offer RMB56,000-57,000/t ex works for antimony ingot 99.65%min at present, and sold around 200t of the material at RMB55,000/t ex works early this week. Now the source holds around 2,000t of the material at hand. "We sell around 100t or 200t of antimony ingot at a time," said the source, they seldom accept small orders.
The source thinks antimony ingot price will increase in the near future, and they hold not much of antimony concentrate, so they are eager to purchase antimony concentrate and accept RMB300-310/mtu for antimony concentrate with 30%min antimony.
A Yunnan-based antimony ingot producer told Asian Metal that they sold around 220t of antimony ingot 99.85%min at RMB56,000-58,000/t ex works early this week, and have around 200t of the material at hand at present. "We receive many orders this week, but do not have much of antimony concentrate to produce more antimony ingot, so we are eager to purchase antimony concentrate," said the source.
According to the source, they mainly purchase antimony concentrate with more than 30%min antimony, and accept cash payment if only the supplier supplies spot goods with good quality and large quantity.
An antimony ingot producer based in Guangxi revealed that they offer RMB56,000-57,000/t ex works for antimony ingot 99.65%min at present, and sold around 200t of the material at RMB55,000/t ex works early this week. Now the source holds around 2,000t of the material at hand. "We sell around 100t or 200t of antimony ingot at a time," said the source, they seldom accept small orders.
The source thinks antimony ingot price will increase in the near future, and they hold not much of antimony concentrate, so they are eager to purchase antimony concentrate and accept RMB300-310/mtu for antimony concentrate with 30%min antimony.
Antimony trioxide exporters suspend quoting
9 Jul 10 – Antimony trioxide exporters reported to Asian Metal that they suspend offering as they do not have the material at hand.
A Guangdong-based antimony trioxide producer, with an output of around 400tpm, stated that they stopped offering as they do not have antimony trioxide in stock, and it is difficult to get antimony ingot in domestic market as many antimony ingot producers do not hold spot goods. "We just got 30t of antimony ingot 99.85%min at RMB58,000/t ex works from a long-term supplier in Yunnan," said the source, revealing that antimony ingot price jumps this week.
According to the source, they exported around 100t of antimony trioxide during the last week of June, and the price was around USD7,500-7,600/t FOB China at that moment. However, antimony ingot price is so high now, if we hold antimony trioxide, then our offer will be above USD8,000/t FOB China.
Another source from a Guizhou-based antimony trioxide producer, with an export volume of more than 2,000tpy, revealed that they ceased offering as they do not have antimony trioxide at hand. "We had consumed our stock two weeks ago, but the price went up when we planned to buy in some antimony trioxide. Meanwhile, we used up our export quota for the first half of year, so did not replenish stock," said the source.
The source also claimed that they came to a supplier in Hunan for antimony ingot on Wednesday, but the supplier revealed that they did not have much spot material and just gave them 30t at RMB59,000/t ex works.
A Guangdong-based antimony trioxide producer, with an output of around 400tpm, stated that they stopped offering as they do not have antimony trioxide in stock, and it is difficult to get antimony ingot in domestic market as many antimony ingot producers do not hold spot goods. "We just got 30t of antimony ingot 99.85%min at RMB58,000/t ex works from a long-term supplier in Yunnan," said the source, revealing that antimony ingot price jumps this week.
According to the source, they exported around 100t of antimony trioxide during the last week of June, and the price was around USD7,500-7,600/t FOB China at that moment. However, antimony ingot price is so high now, if we hold antimony trioxide, then our offer will be above USD8,000/t FOB China.
Another source from a Guizhou-based antimony trioxide producer, with an export volume of more than 2,000tpy, revealed that they ceased offering as they do not have antimony trioxide at hand. "We had consumed our stock two weeks ago, but the price went up when we planned to buy in some antimony trioxide. Meanwhile, we used up our export quota for the first half of year, so did not replenish stock," said the source.
The source also claimed that they came to a supplier in Hunan for antimony ingot on Wednesday, but the supplier revealed that they did not have much spot material and just gave them 30t at RMB59,000/t ex works.
Monday, June 21, 2010
Some ferromolybdenum producers still out of production
Though the ferromolybdenum price didn't go down further and the molybdenum market seems to be bottom out, many Chinese ferromolybdenum producers are still hesitant to resume production, preferring to watch for the market to become clear and stable.
With a production capacity of 6,000tpy, a Liaoning-based producer told Asian Metal that they have been out of production of ferromolybdenum for about two months and still have no intension to resume at the present.
Holding more than 2 containers of molyoxide from a long contract in China ports, the source lamented that the cost of the materials is as high as USD17.00/lb. "The domestic market remains rough," said the source.
Another Shandong-based producer, with a production capacity of 200tpm, stopped the production of ferromolybdenum last month and still has no plan to resume in the near term. The source confirmed the stable price of ferromolybdenum 60% at RMB130,000/t (USD31.72/kg Mo) but added that there was still no profit margin left for them.
"Many Chinese ferromolybdenum producers are still out of production," said the source. "The ferromolybdenum price may go up along with the raw material increasing, but it is still likely that the selling price of ferromolybdenum is lower than the real cost."
Subscribe to:
Posts (Atom)
