January 2012 | Ferro-alloys
Chinese market slows in advance of holiday celebrations: Molybdenum Highlights
Chinese market slow, but activity expected to increase in February.
Trade in the Chinese ferro-molybdenum market is slowing as few steel mills have been buying ahead of the Chinese New Year on January 23. Prices are little changed with ferro-molybdenum 60% being offered at RMB123,000-124,000/tonne for purchases in cash and at RMB125,000-129,000/tonne when paid by acceptance bill.
In a tender using acceptance bill for payment, Xining Special Steel bought 100 tonnes of ferro-molybdenum 60% grade at RMB123,000/tonne while Hengyang Steel Pipe bid for 120 tonnes at RMB124,000/tonne. Acceptance bills are a sort of IOU that can take a few months to be settled, while other deals are done immediately for cash.
Producers in Liaoning province said they are offering material...
ACCESS RESTRICTED
You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.
SUBSCRIBE
Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.
Subscribe