Among the complex, the molybdenum market fell the furthest in percentage terms, with ferro-molybdenum prices down by 14% and oxide prices down by 13% in both Rotterdam and Busan.
Supply concerns in South America and China, amid weak end-user demand, affected sentiment in the molybdenum market throughout the first half of the year, resulting in volatile prices.
Production disruptions in South America
created by Covid-19 lockdowns tightened oxide supply and supported alloy prices in April and early May.
Also, in China, operations were suspended at Yichun Luming Mining’s molybdenum mine in Heilongjiang province at the end of March, following a leak at a tailings dam, which supported...