European molybdenum markets drop ahead of Lisbon conference

The European molybdenum markets have dropped this week amid quiet business while dealers prepared for more active trading at the Fastmarkets MB ferro-alloys conference in Lisbon, Portugal this weekend, sources said.

Fastmarkets MB assessed the price of European drummed molybdic oxide, in-warehouse Rotterdam, at $11.80-12.00 per lb on Wednesday November 7, down from $12.00-12.15 per lb on Friday last week. Fastmarkets MB assessed the price of ferro-molybdenum, in-warehouse Rotterdam, at $28.75-29.00 per kg on Wednesday October 24, down from $28.80-29.30 per kg on Friday last week. No oxide deals were reported traded, with the market awaiting the next tender from Korean steelmaker Posco, which generally buys oxide each month or so, to potentially influence prices more widely. There were only 24 tonnes of alloy reported traded within the new price range in Europe. "There is little activity in terms of demand or...

Published

Declan Conway

November 08, 2018

16:35 GMT

Galway