FeMo, oxide rise as Asian demand outstrips supplyLondon 15 July...

FeMo, oxide rise as Asian demand outstrips supply
London 15 July 2009 15:36


Ferro-molybdenum and molybdic oxide both rose on Wednesday, with no let up in demand from both traders and consumers, and little material available in the market. “It’s the easiest job in the world being a moly salesman now — it’s amazing what appetite is out there," said one trader. Ferro-molybdenum basis 65-70% rose to $29.50-30.30 per kg from $28.50-29.80 per kg last week. Although western consumers remain largely absent from the market, those in Asia are still showing strong interest. “We can from time to time still sell in Europe [to consumers], but the major steel mills have shut down this week,” a second trader said. “But there is no...