FeMo dips as consumers stay away London 01 September 2009 11:49
Ferro-molybdenum dipped on Friday as consumers remained absent from the market, defying the expectations of the majority of sellers. Traders and producers predicted in mid-August that prices would recover with the return of consumers in Europe, but those consumers have so far failed to reappear. “There’s been nothing – molybdenum has gone completely dead and no one wants to buy anything,” said a trader. “France is all off, Germany is all off, and by the end of the week the UK was all off too.” Ferro-molybdenum basis 65-70% slipped to $38.20-40 per kg from $39-40 per kg previously, though very little business was reported to MB. Prices fell...
MOL Price at posting:
$1.32 Sentiment: Buy Disclosure: Held
