The European ferro-molybdenum market has climbed almost 2.5% in trading by the midweek pricing session on Wednesday December 5, tracking a previous increase in the oxide market, with alloy prices now back to a level last seen on September 14.
The ferro-molybdenum, basis 65%, in-warehouse Rotterdam price has risen to $29.50-29.70 per kg, from $28.80-29 per kg on November 30. Around 65 tonnes of alloy was reported traded at $29.50-29.60 per kg, with reports of offer prices as much as $29.70 per kg. The ferro-molybdenum market is targeting $30 per kg, a level last seen at the start of August. For oxide, Fastmarkets assessed the price of European drummed molybdic oxide, in-warehouse Rotterdam, at $12.30-12.40 per lb on Wednesday, from $12.10-12.30 per lb on November 30. No trades...