US: Alloys flat amid dearth of enquiries

摘要

Noble alloy prices were flat in the latest week, largely owing to a dearth of spot inquiries from consumers in the wake of a recent steep drop in steel capacity utilization rates. Prices for 65pc grade alloy remained flat at $9.10-9.30/lb and oxide prices remained unchanged at $8.00-8.20/lb from 2 April. Market participants suspect molybdenum prices will fall further in the coming weeks as the oil market faces headwinds likely to last for months to come. Oil and gas pipeline manufacturers have been particularly hard-hit in recent weeks as the West Texas Intermediate crude price hovers in the $20-30 per barrel.