FeMo climbs further on trader, end-user interestBy Jethro...

FeMo climbs further on trader, end-user interest
By Jethro WookeyPublished: Jul 8 2009 9:40AM
Ferro-molybdenum continued climbing on Wednesday, pushed not only by an active trader market, but by growing interest from end-users as well. "There is a lot of interest from the trade, but also hefty enquiries from consumers in the market," a trader said. "I've avoided selling this week because I think it will go up further." Ferro-molybdenum basis 65-70% rose to $28-29 per kg from $27-28 per kg previously, with the majority of reported business coming around the middle of the new range. A second trader sold a truckload of material at $28.40 per kg and reported sales as low as $28 per kg, while the top of the range was set by a producer who sold two tonnes at just over $29 per...