Ferro-molybdenum succumbs to profit-taking after rally to 10-yr high

Ferro-molybdenum prices dropped on Wednesday after a number of market participants took profits following a six-week rally in which prices jumped as much as 78% and hit a series of 10-year highs, sources said.

Fastmarkets assessed the price for ferro-molybdenum 65% Mo min, in-whs Rotterdam at $47-48.50 per kg on Wednesday June 23, down by 3.6% from $49-50 per kg on June 16.

This represented a steeper decline after the price reduced slightly on Friday June 18, when it slipped by 10 cents at either end of the trading range after hitting...

Published

Janie Davies

June 24, 2021

12:40 GMT

London