European ferro-molybdenum price jumps on tight prompt supply; oxide lags behind

The European ferro-molybdenum price climbed by 2.9% in the midweek assessment on tightening prompt inventories and increased end-user demand, while oxide prices lagged behind.

Fastmarkets’ price assessment for ferro-molybdenum, basis 65%, in-whs Rotterdam climbed to $21.80-22.40 per kg on Wednesday October 28, up from the previous week’s assessment of $21.25-21.70 per kg.
“Inquiries from end users increased in the first half of the week, helping to push the alloy’s price higher,” a supplier in Europe said. “Meanwhile, prompt inventories remain limited.”
“A lot of material has been going to Asia and warehouses in Europe are looking empty,” a trader in Europe said.

For the first time in a while the alloy price is trading at a premium to oxide prices, market sources noted, due to a...

Published

Ewa Manthey

October 29, 2020

15:17 GMT

London