Copying and distributing are prohibited without permission of the publisher

Chinese FeMo rebounds on higher moly import offers and supply constraints

April 28, 2009 - 07:50 GMT Location: Shanghai

Chinese ferro-molybdenum offers have staged a recovery on the back of higher molybdic oxide import offers and limited supply from both the domestic and overseas markets.

The latest offers were quoted at 105,000-106,000 yuan per tonne, market participants told MB. “The offers for ferro-molybdenum have risen since last week from a low of 94,000-95,000 yuan per tonne,” said a trader in Liaoning province, where many ferro-molybdenum producers are located. Even larger producers were unable to accept bids at these levels, participants said. Molybdenum concentrate producers have also been squeezed in recent weeks, unable to offer material below 1,500 yuan per...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.

If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.

A standard subscription include one year's worth of news and prices. You can also upgrade to the full archive and benefit from more than 13 years of intelligence. Start your subscription today.

Free trial

Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.

Free trial

Already have an account?

Stainless & Special Steels

May 23, 2012 14:57 NAS cuts stainless extra for June
May 23, 2012 14:43 Chinese tungsten ore output drops 8% in April
May 23, 2012 11:10 CHINA STEEL WRAP: Rebar prices at seven-month low
May 23, 2012 10:45 Chinese nickel pig iron production may drop significantly in June
May 23, 2012 00:47 Temco restart may crimp US manganese alloy tags

Ores & Alloys

May 23, 2012 17:01 MB NON-FERROUS PRICE CHANGES
May 23, 2012 15:05 Ferro-molybdehum price slides as suppliers slash offers
May 23, 2012 14:43 Chinese tungsten ore output drops 8% in April
May 23, 2012 04:10 South Australia still optimistic about BHP's Olympic Dam
May 23, 2012 00:47 Temco restart may crimp US manganese alloy tags

Comment & analysis

EXPERT VIEW FROM ERNST & YOUNG: Horror week favours the brave

Seven days is a long time in the investment world, but last week must have felt longer than most.
COMMENT: When super-cycle poster child BHP Billiton trims its plans...

BHP Billiton is one of the poster children for the commodities super-cycle: a mining company whose immense upstream assets in copper and iron ore have fed the industrialisation of China since the early years of the 21st century and enabled it to return $52 billion to shareholders between 2001 and 2011.
LORD COPPER: There is nothing to fear after JP Morgan loss ...

So, here we go again. Another bank, another huge trade gone bad. This one doesn’t even appear to have been a case of rogue trading; a whole desk seems to have been operating with the full knowledge of the management and/or risk committee.