“I think there’s probably a bit more optimism for 2014. Currently, the figures coming out of Europe are a bit better, and the same for Asia,” a trader said.
“People are hoping that the bad year is behind them and things are going to get better.”
Participants are nonetheless loath to make any specific predictions for the year, after surprises such as the Kennecott wall slide, and with prices as low as $22.70 per kg for ferro-molybdenum.
“I don’t think we will see a lot of big things happening in the first three quarters – I think the market will be relatively stable,” a producer told Metal Bulletin.
Any move to the downside would lead to difficulties for mines in China, which...