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'Nightmare' for ferro-molybdenum as prices sink on supplier liquidation

June 22, 2011 - 13:53 GMT Location: London

KEYWORDS: ferro-molybdenum , molybdic oxide

Molybdenum prices dropped sharply on Wednesday as suppliers moved to liquidate their positions amid stalling demand and high stocks.

Ferro-molybdenum traded at $37.70-39.70 per kg compared with $38.90-39.90 per kg on June 17. “The major issue is an oversupply of stock in Europe and a slowdown in stainless consumption. People really want to liquidate before [the European] summer,” a producer told MB. Small quantities of material can still be sold just under $40 per...

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

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