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FeMo, oxide up as traders seek units

February 08, 2012 - 16:03 GMT Location: London

KEYWORDS: Ferro-molybdenum , molybdic oxide , Europe , Chinese FeMo demand

European molybdenum prices rose strongly on Wednesday February 8 as demand from traders rose alongside demand from consumers in a tight market.

Ferro-molybdenum basis 65-70% rose to $35-35.70 per kg from $34.30-34.70 previously, while drummed molybdic oxide reached $14.20-14.60 per lb from $14-14.20 previously. Sellers saw strong demand for both oxide and ferro-moly at the end of last week and early this week. “From Friday to Tuesday it went crazy, with...

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