Ferro-molybdenum continued climbing on Friday as growing buyer interest and a tightness of supply combined to push prices close to $30 per kg. “Moly is on a bit of a run – there’s some consumer demand, traders want to take positions, and no one is sitting on large stocks with the exception of the Chinese who don’t want to sell,” a trader said. “There is a lot of strength in the market, and we’re getting desperate enquiries for material.” Ferro-molybdenum basis 65-70% rose to $28.50-29.80 per...
MOL Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
