“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...