Low Molybdenum Prices Likely to Prevent Chinese Stockpiling
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- Category: Molybdenum's News
- Published on 21 June 2013
- Hits: 600
It is reported that Chinese traders, who normally stockpile molybdenum imports when prices near $10 per pound, are not likely to do so in the coming months as Chinese demand is expected to stay low.
As quoted in the market news:
"The Chinese domestic market is slow, and so is overseas. There is only a narrow difference between prices to take advantage of the price arbitrage. Also if domestic prices go down, there is nowhere for imports to go",said one Chinese trader.
A second Chinese trader said: "We [have not] decided whether to re-stock a bit or not when import prices reach 10.50/lb. We will have to wait and see".
"Molybdenum concentrate is at Yuan 1,480/mtu ex-plant ($240/mtu, or for 10 kg of molybdenum contained in one ton of concentrate plus 17% value added tax) down from above Yuan 1,520/mtu two weeks ago. Domestic ferromoly prices fell to about Yuan 100,000/mt ex-plant, down about Yuan 10,000/mt from two weeks ago",the trader added.
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