MOL 0.00% 6.9¢ moly mines limited

FeMo dips as consumers stay away London 01 September 2009 11:49...

  1. KGD
    236 Posts.
    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...
 
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