European molybdenum markets extend gains

European molybdenum prices rose this trading this week, with both molybdenum oxide and ferro-molybdenum prices paring almost all losses so far this year, with higher oxide offer prices behind the rise in the alloy market.

Still, there were few deals reported and industry sources said there is a disparity between oxide fundamentals and those in ferro-molybdenum, casting doubt on the sustainability of higher alloy prices in the coming weeks.
"There is no trouble with the availability of ferro-molybdenum, there is material available in Rotterdam if you want it," one trader said.

"The move behind oxide is more of a long-term thing in that there is no new production...


Declan Conway

January 31, 2019

15:30 GMT