Molybdenum markets drop around 3% due to slower demand

Molybdic oxide and ferro-molybdenum prices in Europe have dropped by about 3% so far in the week that began on Monday August 6, after strengthening to three-month peaks the week before, in line with domestic consumer demand.

The markets climbed last week because of supply tightness and rising prices in Asia outside of China. But this has faded this week, leaving European fundamentals alone to influence the prices in Europe. The latest move in the European markets marked the first retreat in prices since the start of July, after a run of losses in June. Nontheless, prices on August 9 were at their highest level since the start of May. With many consumers expected to return to the market toward the end of August, after holidays, any further price drops should be only by a fraction of the latest...

Published

Declan Conway

August 09, 2018

20:00 GMT

Galway