| ¡¡ Domestic traders in the US are reporting little movement in
the ferromolybdenum market as prices have softened by a small margin over the past week. Some
sources stated that inquiries are keeping relatively stable, while others reported uncharacteristically low
interest for the material so close to the second quarter. A major influence on the quiet ferromolybdenum
market continues to be the decreasing trend experienced in nickel.
According to domestic participants, the price for ferromolybdenum 65%min keeps at USD42.3-43.3/kg;
a small USD0.1/kg decrease from prices reported early last week.
One US-based trader of ferromolybdenum 65%min, who quoted prices at USD42.3-43.3/kg, stated that
small volumes of material may be going as high as USD43.5/kg, however, quantities of over 15t would
be concluded at USD42.6/kg and lower. Last week he concluded a 5t sale of ferromolybdenum 65%min
to a domestic buyer at USD43.4/kg. The source stated that the US market is keeping quiet with spotty
activity occurring.
“There are several sales being done with 10t or less of ferromolybdenum where the price reaches the
USD43.5/kg mark, but I feel with the drop in molybdenum oxide prices recently, the average price is
around USD42.6-42.8/kg,” said the source. “The market seems to have flattened out a bit for the time
being. The constant decline with nickel is not helping the moly market either.”
Another US-based distributor remarked that he is noticing stable activity even though others are not
experiencing the same in the domestic market. The source, who quoted prices for ferromolybdenum
65%min at USD42.5-43.5/kg, noted that late last week he offered a half-truckload to a buyer at
USD42.9/kg, however, he has yet to conclude the sale. He has an average distribution volume of 3-4
containers each month.
“There are reports of increased activity in some international markets such as Europe, but I am not
seeing a strong noticeable increase in the US,” stated the source. “I feel like it is only increasing
because Q2 is right around the corner and generally speaking, the second quarter has performed very
well in the past. Hopefully there will be a small rebound as we get further into Q2.” |
