The Chinese stainless industry is also driving other alloy prices higher, with Chinese molybdenum prices posting notable gains. Chinese molybdenum concentrates prices have improved to RMB950-1,050/tonne this week from just RMB830-850/tonne at the start of the month. The combination of reduced supply, with Chinese molybdenum mines announcing a joint production cut earlier this month, and improving demand from Chinese stainless mills are spurring prices higher.
Upward momentum in molybdenum prices has faded in Europe, however, with prices undergoing a downward correction over the past week. European ferro-molybdenum prices slipped to $19.00-19.50/kg after soaring to $19.50-20.30/kg, while molybdic oxide prices fell to...
