FeMo price rises but business slowsLondon 18 June 2009 09:08...

FeMo price rises but business slows
London 18 June 2009 09:08

Ferro-molybdenum edged higher on Wednesday, although business has slowed markedly since last week. Ferro-molybdenum basis 65-70% rose to $26-27 per kg from $25.75-26.65 per kg previously, although producers and traders reported a dip in business levels. “FeMo is taking a bit of a pause but is still holding very firm,” one trader said. “Enquiries are coming at $26-26.50 [per kg] but I’ve not done anything as I’m not keen to sell at $26.” One trader sold a container of material at $26.25 per kg, while another sold the same volume at $26.25 per kg to a consumer. The...