The European molybdenum markets fell in trading this week to a six-month low, with suppliers cutting their offer prices in the face of stubborn resistance among consumers against paying more.
Both the alloy and oxide markets in the second week of January were at prices last seen in July 2018.Moreover, there has been an abundance of spot ferro-molybdenum available since the past quarter, as well as lower oxide prices.Lower prices in Asian regions such as China and South Korea have also influenced price movements in the West, with Chinese prices already showing signs of being weaker in the near term.The price of ferro-molybdenum, basis 65%, dropped to $26.80-27.00 per kg, in-warehouse Rotterdam, on Wednesday January 9, down by $1 per kg from the preceding Friday. Offer prices may drop...