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FeMo and oxide rise on stronger demand, tight supply

May 29, 2009 - 17:21 GMT Location: London

KEYWORDS: molybdenum , ferro-molybdenum , molybdic oxdide , jethro wookey

Molybdic oxide and ferro-molybdenum edged higher on Friday as demand from Asia remained strong and European consumers continued to creep back towards the market.

Ferro-molybdenum basis 65-70% climbed 50 cents on the top end to $23.50-25 per kg from $23.50-24.50 previously, with business concluded across the new range.

One trader sold two truckloads at $23.50 per kg, with one going to Asia and the other going to a German consumer, while a producer who sold a truckload of ferro-moly to a mid-sized European consumer at $24.85 achieved a price at the top of the range for a three-tonne deal.

Much of the market’s strength stems from a lack of available material thanks to heavy...

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

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