Molybdenum prices tumble to January lows on Asia slowdown, coronavirus fears

Molybdenum prices in South Korea and Europe dropped sharply this week on slowing demand in Asia amid the novel coronavirus (2019-nCoV).

"There is pessimism in the market related to the coronavirus with some people in panic trying to push prices down [to entice buying]," a trader in Europe said.
"The party is over for molybdenum. Prices went up too fast before and now the market's losing a lot of its value," a second trader said.

Fastmarkets assessed the price of drummed molybdic oxide, in-whs Busan at $9.20-9.60 per lb on Wednesday February 26, down 4.1% from the previous week's assessment of $9.75-9.85 per lb....

Published

Ewa Manthey

February 26, 2020

16:56 GMT

London