Molybdenum price uptick stalls in midweek assessment on holiday absences

The molybdenum oxide and alloy markets in Europe were virtually unchanged on deals reported midweek, with last week's small price recovery stalling during a week-long holiday in key dealer China, sources told Fastmarkets MB on Wednesday October 3.

Market activity in Europe has been further quietened because of a holiday in South Korea this week, as well as a national holiday in Germany on Wednesday.
Most industry sources expect the return of Chinese trading next week to stimulate European trading, with Asian business seen more likely than Europe to see a high level of consumer buying interest.

Fastmarkets MB assessed the price of European drummed molybdic oxide, in-warehouse Rotterdam, at $11.80-11.90 per lb on Wednesday, unchanged from Friday. Only 44 tonnes of oxide was reported traded in the latest session at $11.80-11.85 per lb,...


Declan Conway

October 03, 2018

18:01 GMT