Western FeMo oxide hitting higher prices every day, say traders London 05 August 2009 15:49
The dramatic rally in Western-grade ferro-molybdenum and molybdic oxide prices shows no signs of slowing, with traders telling MB that prices are out of date within hours of business being transacted. “You should be publishing new prices every day,” a trader told MB, saying that prices are moving so fast that prices are rising on a daily basis. The market is moving so fast that prices were above Friday’s range almost immediately. Ferro-molybdenum, basis 65-70% rose to $41-43 per kg on Wednesday from $38-40 per kg on Friday, having increased more than 80% in three months. “There was a lot of business done on Friday afternoon at around
MOL Price at posting:
97.0¢ Sentiment: Buy Disclosure: Held
