JDC Moly’s return reverses oxide price rise

Molybdenum oxide prices lost their upward momentum following the return to normal operations by one of the world’s top molybdenum producers, Jinduicheng Molybdenum Co (JDC Moly), on Thursday August 20.

Molybdenum oxide prices had risen in all regions in Fastmarkets assessments after flooding in China’s Shaanxi province on August 5 that disabled about 60% of JDC Moly’s concentrate output.
Having gained roughly 9-11% across regions during JDC Moly’s absence, molybdenum oxide prices fell in both Asia and Europe in Fastmarkets’ assessment the day after JDC Moly’s return, by 1.6% and 1.3%, respectively.
And in the United States, a steady price rise since JDC Moly’s disruption, was capped at the previous week’s high.

Fastmarkets assessed the price of molybdenum, canned molybdic oxide, in-whs Pittsburgh, at $7.75-8 per lb on August 20, narrowing upward by $0.15 per lb from $7.60-8 per...

Published

Orla O'Sullivan

August 24, 2020

03:09 GMT

New York