Molybdenum and vanadium continue to firm

The molybdenum and vanadium markets are unseasonably active, traders report, with prices continuing to firm.

While most traders agreed that prices around $7 per lb and above would be attainable, only one transaction — and that unconfirmed — was reported, for molybdenum oxide delivered at $7.15 per lb.

The shortage of material is attributed largely to decreasing Chinese exports, with one trader reporting that they fell 30 percent month-on-month in October 2003 and are expected to fall even further in November. “It’s all being used domestically or converted into ferro-molybdenum”.



December 10, 2003

13:38 GMT