Metal Bulletin reported that ferromolybdenum rose today to trade between $25 and $25.20 per kilogram. Molybdic oxide also increased, trading between $9.85 and $9.90 per pound.
As quoted in the market news:
‘There’s been quite good activity since Wednesday,’ one ferro-molybdenum supplier source said.
‘Almost no steel plants started the year with large stocks and producers didn’t have stocks either and have only just restarted. Traders didn’t have much material either,’ the source added.
Most market participants reporting numbers to Metal Bulletin debunked widespread claims that molybdic oxide has reached $10 per lb.