The European ferro-molybdenum market has dropped this week because of slow demand from consumers in the steel sector and from traders, sources told Fastmarkets on Wednesday November 21.
Moreover, more price losses can be expected in the near term if consumer demand does not pick up, they added, while suppliers typically try to clear out most of their inventories ahead of the new calendar year.Fastmarkets assessed the price of ferro-molybdenum, in-warehouse Rotterdam, at $28.20-28.50 per kg on November 21, down by $0.30 per kg from Friday last week.Only one truckload of alloy was reported traded, at $28.20 per kg in-warehouse to a buyer in Germany. Other sources reported hearing of deals done at $28.00 per kg, but nothing could be confirmed at the time of publication.Fastmarkets assessed the price of European drummed molybdic oxide, in-warehouse Rotterdam, at $11.80-12.00 per lb on November 21, unchanged since November 7.There was no reported business in Europe, but there was a deal for 20 tonnes of oxide at $12.10 per lb in South Korea. South Korean steelmaker Posco is due to settle...