Molybdenum

摘要

Great uncertainty gripped the European ferromolybdenum market as pundits struggled to foresee whether the spot price would reach 90 dollars/kg before or after the Christmas holidays. In the very beginning of December, a sizeable German steel mill settled an on-line auction at 87.70 dollars/kg for mid-January delivery with payment to follow 60 days later. Similar transactions took place in the USA, where traders were surprised to receive order confirmations on quotations of more than 40 dollars/lb (88.18 dollars/kg). Chinese material - which is subject to an anti-dumping duty of 22.5 percent in the European Union - exceeded the 65 dollars/kg level and seemed set to reach 70 dollars/kg for prompt Rotterdam conveyance. Meanwhile, ferromolybdenum was traded at 67-68 dollars/kg in Japan and South Korea, as local stainless steel producers drastically reduced 316 series output levels. In a concerted effort to push through substantial price increases, Chinese oxide exporters sold at 28 dollars/lb cif to Japan ahead of a widely expected abolition of export rebates on molybdenum and other alloys at the beginning of next year. In Europe and the USA, oxide spot prices ranged between 28-30 dollars/lb. Reports that Chinese exporters to Europe had concluded deals at 31,50 dollars/lb at the end of November appear to be slightly ahead of the market, but are nevertheless an accurate indication of its direction.