European FeMo suppliers struggle to increase prices
2023-11-30
Despite determined efforts to push for price hikes, European ferromolybdenum (FeMo) suppliers find themselves grappling with resistance from end-users.The surge in molybdenum oxide (MoOx) prices to $18.2/lb Mo in Tianjin prompted European FeMo suppliers to boost their positions further. “Considering the current MoOx price, a FeMo price at $44/kg Mo DDP would make sense,” an international trader stated. However, this level is deemed “more ambitious than the workable,” according to the source.While the highest-priced deal has been reported at $43.2/kg Mo DDP, offers have apparently reached $44/kg Mo DDP levels. On balance, Metis prices for FeMo (65% Mo min) have settled at $43-43.5/kg Mo DDP.
FeSi sellers remain resolute in securing price increases
2023-11-30
Despite weak demand, ferrosilicon sellers in Europe persistently announce offer prices at €1,400/tonne DDP and above, appealing to high production costs and expensive imports. In particular, in a tender for the supply of FeSi to a customer in Central Europe, proposals were around €1,400-1,420/tonne DDP. However, knowing that sellers could not rely on steady demand, the buyer reportedly counter-offered below €1,300/tonne DDP. Metis also became aware of offers of Kazakh alloy in Italy at €1,420/tonne DDP. At the same time, a Norwegian producer was offering products (75% Si) to traders at €1,390/tonne ex-warehouse Rotterdam. Reports about offers of lower quality products from another producer at €1,325/tonne DDP have not been confirmed.In view of the above, Metis is adjusting the upper end of the spot price range for FeSi (75% Si, 1.5% Al) in Europe upwards by €10/tonne to €1,350-1,390/tonne DDP.
European HC FeCr market affected by sluggish demand and pessimistic outlook
2023-11-29
The number of spot deals concluded in the European high carbon ferrochrome (HC FeCr) market has apparently dwindled down to almost nothing. European traders, faced with this slowdown, are refraining from giving firm offers and are instead engaging in individual negotiations with customers. An international trader characterised the HC FeCr market as “dead”, anticipating forthcoming price reductions.
Amid global uncertainty in the ferrochrome market, Indian HC FeCr prices are experiencing a decline. Accordingly, ex-India HC FeCr (65% Cr, Si 1.5% max) offers to Europe declined by $0.1/lb Cr over the past two weeks to below $1.2/lb Cr CIF Rotterdam. Concurrently, HC FeCr (60% Cr, Si 2% max) and HC FeCr (60% Cr, Si 3% Si) are offered at $1.03/lb Cr CIF Rotterdam and $1.07/lb Cr CIF Rotterdam, respectively.On balance, in Europe, prices for HC FeCr (60% Cr, Si 3% max) are expected to be hardly above $1.1-1.2/lb Cr DDP in the nearest transactions. That suggests a 6% decline compared to levels observed two weeks ago.