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|China Mo Jan/Feb Imports/Exports Both Go Low|
|= Export down by 40%, imports down by 29% compared to the same period of 2011 =|
China's molybdenum trade was quiet during January and February. |
Exports from China thrives usually during the first half of each year, but this year seems an exceptional one, making only 3.68 million pounds (of molybdenum content) during the first two months, down by 40.5% from 6.18 million pounds recorded in the same period of last year. Imports during the period were 2.62 million pounds, which means an export-surplus.
Because of the drastically reduced volume of both imports and exports, most probably resulting from the international market situation, the Chinese trading activity was without liveliness that had been seen a year ago.
The price of molybdenum oxide picked up in January 2012 from the bottom to US$13.50 - 14.50/lb, compared to a much higher level at US$17.00 - 17.50/lb in the same period of 2011. It seems that Chinese exporters do not find the current price attractive cost-wise, although imports are not so attractive either and may involve risks under the current uncertain market situation.
For reference, the imports and exports of molybdenum during the Q1 (January - March) of 2011 were, <> exports: 9.17 million pounds, and <> imports: 4.87 million pounds, a large export surplus.
|last modified : Mon 09 Apr, 2012 [10:44]|