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Full steam ahead for FeMo; no end to European rally in sight

April 14, 2014 - 08:05 GMT Location: London

KEYWORDS: Europe , prices , noble alloys , producer , trader , ferro-molybdenum , molybdic oxide

Ferro-molybdenum prices broke through $30 in Europe on Friday April 11 for the first time since September 2012, with indications that the rally still has some room left to run.

"It’s crazy. Prices are continuing to rise. Yesterday, I asked for an offer, but I just got indications, not firm offers," a producer said. "Most probably, people are taking options on their long-term contracts. It’s not great demand, but it’s good demand, and that’s reflected in this tightness." Ferro-molybdenum prices shot up again, to $30.20-30.50 per kg on Friday, compared with $28.40-28.90 per kg on Wednesday. Market participants have said there is almost...

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