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

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...

Published

Janie Davies

June 22, 2011

13:53 GMT

London