The European molybdenum markets dropped in trading this week as suppliers cut their offer prices to encourage buying interest amid weakening demand.
There is an abundance of spot ferro-molybdenum available and signs of lower oxide prices, although the latter has some support due to limited production in coming months. The ferro-molybdenum, basis 65%, in-warehouse Rotterdam price dropped to $28.50-28.80 per kg on Wednesday December 19, from $28.80-29 per kg on Friday. About 70 tonnes was reported traded broadly within the new price range. "We have lost several tenders on ferro-molybdenum in Europe, where winning prices were $28.50-28.70 per kg for truckload quantities on a duty-paid basis," an industry...