PAKT visits Asian Metal

Mr Chris Adamski, Owner of Warsaw based metal trading firm PAKT, visited Asian Metal’s London office on Tuesday 12th March 2013 and met with Elliott Day, noble ferro-alloy market analyst, and Melvin Hill, rare earth market analyst.

PAKT has spent over 20 years serving the Polish metallurgical industry, working as a supplier of numerous ferro-alloys and minor metals. In the past, Mr Adamski has been involved in the supply of high quality molybdenum oxide 57%min powder, forging relationships with many of Europe’s largest electronics companies. He explained that following the global financial crash of 2008, much of this business was lost due to tightening profit margins and pressure from downstream users for lower raw materials prices. Despite this, Mr Adamski continued to deliver ferromolybdenum 65%min and molybdenum oxide 57%min material to Eastern European steel mills and foundries.

Mr Adamski was keen to share news and information concerning the European molybdenum markets during the meeting, and stressed that Asian Metal’s up-to-date pricing information allows him to stay ahead of the sharp movements in market prices. When discussing the current downtrend in the European molybdenum markets, Mr Adamski blamed the crippling austerity measures currently being enforced by many European governments to tackle rising budget deficits. He felt that the negative consequences from these measures, including falling consumer purchasing power, rising unemployment and a sharp drop in manufacturing output during 2012, may all continue throughout 2013, leading to a prolonged downtrend in molybdenum prices.

After a brief stint operating in the rare earth oxide markets during 2012, Mr Adamski revealed to Asian Metal analyst Melvin Hill that he had ceased activities in this area due to poor trading volumes and tough market conditions seen over the past 6 months.