European molybdenum markets pick up on new deals

European molybdenum prices rose in trading this week, with oxide bouncing off a six-month low and ferro-molybdenum off a low last seen in December 2017 after a raft of new deals.

The moves were fueled by a relative tightness in oxide, which pulled up alloy offer prices, although muted consumer demand for ferro-molybdenum and readily available supplies in Rotterdam may cap firmer price advances in alloy prices, sources told Fastmarkets. The price of ferro-molybdenum, basis 65%, increased to $25.70-36.40 per kg, in-warehouse Rotterdam, on Wednesday January 23, up from $25.20-25.70 per kg the preceding Friday. Around 100 tonnes was reported traded within the latest assessed price range. For molybdic oxide, Fastmarkets assessed the price of European drummed molybdic oxide, in-warehouse Rotterdam, at $10.90-11.00 per lb on Wednesday, up from $10.60-10.80 per lb on Friday. Around 60 tonnes of oxide was...

Published

Declan Conway

January 24, 2019

12:06 GMT

Galway