Spot prices for European molybdic oxide and ferro-molybdenum have been relatively stable in Metal Bulletin's midweek assessment, with market activity muted while dealers await the result of second-quarter delivery tenders from consumers in the steel sector.
Oxide prices have been unchanged on only 20 tonnes of reported trades, while the alloy market price range has widened on reported trades of about 100 tonnes. Metal Bulletin assessed molybdic oxide prices at $13.00-13.20 per lb in-warehouse Rotterdam on Wednesday March 7. Still, the market has jumped almost 30% since it was assessed at $9.80-9.90 per lb at the end of last year. For ferro-molybdenum, European prices widened to a range of $30.80-31.80 per kg in-warehouse Rotterdam on Wednesday, from $31.00-31.30 per kg on Friday and up about 25% since the start of the year. The market, which dipped in February when the Chinese market effectively shut down for a national week-long holiday, is well up on...