Chinese FeMo offered in Europe for first time this year London 05 August 2009 14:59
Chinese ferro-molybdenum is being offered on the European market for the first time this year after Western grade material prices have settled above $40 for the first time since late October 2008.
While ferro-molybdenum basis 65-70% and molybdic oxide have been soaring in recent months, there has been practically no business transacted in Europe of China-origin ferro-molybdenum basis 60% so far in 2009.
Western ferro-molybdenum prices have risen 83% and moly oxide by 100% in the last three months.
Ferro-molybdenum basis 65-70% rose...
MOL Price at posting:
97.0¢ Sentiment: Buy Disclosure: Held
