Molybdenum markets climb further as oxide leads the way

Molybdic oxide prices in Europe have added to gains made on Friday amid more buying interest so far this week after higher-priced sales of oxide in Asia affected market sentiment in the West.

The move higher in European oxide has pulled up offer prices in the domestic ferro-molybdenum market, although there were fewer reported sales in alloys while market participants wait to see how far the oxide rally will last. Metal Bulletin assessed European molybdic oxide prices at $10.75-10.90 per lb in-warehouse Rotterdam on Wednesday July 11, from $10.65-10.80 per lb on Friday. The ferro-molybdenum price range in Europe was assessed at $26.80-27.10 per kg in-warehouse Rotterdam on Wednesday, from $26.60-26.80 per kg the previous assessment. Traders are apparently unwilling to offer alloy under $27 per kg, and some traders assessed the market as...

Published

Declan Conway

July 12, 2018

13:05 GMT

Galway