China Molybdenum Price - July 7, 2020
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- Category: Tungsten's News
- Published on Wednesday, 08 July 2020 20:08
China molybdenum price is unchanged from the previous trading day affected by many uncertain factors. Both buyers and sellers hold cautious sentiment, resulting in rare transactions concluded.
This year's Covid-19 pandemic related slump in molybdenum prices has widened arbitrage opportunities for western oxide suppliers into China, with buyers both inside and outside China likely to seize the opportunity to lock-in material under term-contracts before economies and prices start to recover.
One producer mentioned this week that he had sold over 100t of oxide to China at $0.20/lb higher than the du Rotterdam assessment range of $7.20-7.40/lb. Furthermore, a trader mentioned that he had sold two containers of ferro-molybdenum to Tianjin at $19/kg cif, which is around $1/kg higher than du Rotterdam prices. China's ferro-molybdenum prices are at just over $21/kg including a value-added tax and import tax which, when removed, render this inter-regional trade profitable for both counterparties.
Prices of molybdenum products on July 7, 2020
Picture of molybdenum powder
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