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...