European molybdenum markets extend downward trend

The European molybdenum markets dropped in trading this week as suppliers cut their offer prices to encourage buying interest amid weakening demand.

There is an abundance of spot ferro-molybdenum available and signs of lower oxide prices, although the latter has some support due to limited production in coming months. The ferro-molybdenum, basis 65%, in-warehouse Rotterdam price dropped to $28.50-28.80 per kg on Wednesday December 19, from $28.80-29 per kg on Friday. About 70 tonnes was reported traded broadly within the new price range. "We have lost several tenders on ferro-molybdenum in Europe, where winning prices were $28.50-28.70 per kg for truckload quantities on a duty-paid basis," an industry...

Published

Declan Conway

December 19, 2018

17:25 GMT

Galway