Molybdic Oxide, Ferromolybdenum Prices Rise in Europe

Metal Bulletin reported that European prices for both molybdic oxide and ferromolybdenum took off today on the back of a shortage of raw materials and producers’ reluctance to sell.

As quoted in the market news:

Ferro-molybdenum prices rocketed to $26-26.90 per kg, compared with $25.50-25.80 per kg on Wednesday, and participants were struggling to keep up as the day continued. This is the first time the price has been above $26 per kg since June 21 last year. Molybdic oxide prices also took off, rising to $10.80-11 per lb, from $10.30-10.45 per lb on Wednesday.

Click here to read the full Metal Bulletin report.