European ferro-molybdenum price jumps on tight prompt supply; oxide lags behind

The European ferro-molybdenum price climbed by 2.9% in the midweek assessment on tightening prompt inventories and increased end-user demand, while oxide prices lagged behind.

Fastmarkets' price assessment for ferro-molybdenum, basis 65%, in-whs Rotterdam climbed to $21.80-22.40 per kg on Wednesday October 28, up from the previous week's assessment of $21.25-21.70 per kg.
"Inquiries from end users increased in the first half of the week, helping to push the alloy's price higher," a supplier in Europe said. "Meanwhile, prompt inventories remain limited."
"A lot of material has been going to Asia and warehouses in Europe are looking empty," a trader in Europe said.

For the first time in a while the alloy price is trading at a premium to oxide prices, market sources noted, due to a...

Immediate trigger for crash was new Fed Chairman pick

Gold stocks slump on metal price decline

Is the gold market starting to turn 'irrationally exuberant'?

Gold stocks explode up as equity markets languish

Gold stocks outpace flat large caps