Molybdenum prices have bounced back in Europe this week after a mixed tender for around 500 tonnes of oxide and ferro-molybdenum was mostly settled in Asia to major consumer Posco, sources said.
Fastmarkets MB assessed the price of European drummed molybdic oxide, in-warehouse Rotterdam, at $12.00-12.20 per lb on Wednesday October 24, up from $11.90-12.00 per lb on Friday last week.Fastmarkets MB assessed the price of ferro-molybdenum, in-warehouse Rotterdam, at $29.00-29.20 per kg on Wednesday October 24, up from $28.60-29.10 per kg on Friday last week.The Posco tender in Asia, which was for approximately 200 tonnes of briquettes and 300 tonnes of alloy, was settled with around 375 tonnes of material sold to the Korean steelmaker. Price details and the split in sales have remained unclear, although oxide offer prices in Asia are already at least $12.10 per lb since the tender was partly settled on...