Molybdenum News Center

European Ferromoly Demand Spurs Molybdenum Demand

Increases in spot inquiries from European traders seeking to buy ferromolybdenum continued to fuel spot demand for moly oxide powder, a ferromoly feedstock, market sources said Tuesday.

There was no deal reported as buyers wanted to wait for a price direction on ferromoly as more European market participants were expected to return to the market late hours Asian time Tuesday after the Easter holidays. Some Chinese sellers have suspended spot offers as well.

"If I can sell ferromoly at $27.20/kg [in-warehouse] to Europe, perhaps I can accept to buy moly oxide at $10.90/lb CIF," said one South Korean trader. The trader said his European customers had bid less than $27/kg.


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