Stronger demand pushes up molybdic oxide, FeMo prices

Stronger demand for molybdic oxide in Europe this week has pushed prices to a three and a half year high, with ferro-molybdenum prices increasing to a range also unseen for three and a half years.

Molybdenum drummed molybdic oxide prices were last assessed at $11.40-11.65 per lb, in-warehouse Rotterdam on Wednesday January 17. The market was previously assessed at $11.05-11.30 per lb on Friday January 12, from $9.80-9.90 per lb since the end of last year.
The market is now at a level last seen in August 2014, a year when the market peaked at $14.80-15.30 per lb in May. This week some 180 tonnes of oxide was reported to have traded between $11.40 and $11.65 per lb, and there were offer prices as much as $11.90 per lb, a couple of traders said.
"We have rejected a couple of bids at $11.65 per lb," one trader said, adding, "Oxide is tight in Asia and there are no producers such as Molymet and Climax offering on a spot basis so far this month."


Declan Conway

January 18, 2018

15:40 GMT