EU Molybdenum Product Prices Rise Again

Rising European ferromolybdenum prices have spurred end-users to enter the market as the low-priced stocks ran out.

European ferromolybdenum (60-70%Mo) offers rose $5.5/kg Mo week-on-week, up to $43-43.7/kg Mo FCA Rotterdam. According to local traders, stocks of cheap materials have been sold out and now alloys are being mostly purchased at peak prices. However, consumers did not reject procurement. While the number of inquiries has increased significantly over the past two weeks, transactions remain low. As alloy prices continue to rise, buyers enter the spot market to replenish inventories. In addition, rising Chinese molybdenum product prices boosted EU prices.

The ceiling for molybdenum oxide (57%Mo) offers rose by $0.2/lb Mo to $17.3-17.6/lb Mo FCA Rotterdam. Multiple strikes and production cuts in South America have resulted in a significant reduction in the supply of molybdenum oxide (57%Mo).