The EU minor metal market is showing a multi-directional trend

According to the news received by Hainan West Asia, the prices of alloys and raw materials have started to rise again. However, it is currently unclear how long this trend will continue. Meanwhile, the quotation for ferrovanadium remains almost unchanged.
The quotation for ferromolybdenum (60-70% Mo) has increased by more than 2 usd/kg Mo DDP to 43-44 usd/kg Mo DDP within one day. Market participants stated that the main reason for the price increase is the lack of low-priced materials in the seller's warehouse. A seller explained, "Last night, the price fell below $41 per kilogram of Mo, and some transactions were made because it was a resistance level for many people. After low-priced materials were sold out, prices immediately began to rise, and it is unlikely that you will find a quote below usd43 per kilogram of Mo today.".
Another reason for the growth is the rise in Asian prices, especially in China. Today, the ferromolybdenum market closed at 46usd/kg Mo or even higher. The contract market has been active recently, and the rise in spot prices is mainly affected by the rise in raw material prices. However, local market participants expressed doubts about the continued existence of this price dynamics.
The price of molybdenum oxide (57% Mo) has risen to $17.7-17.8 per pound of Mo DDP (compared to $17-17.3 per pound of Mo DDP the previous day).
The ferrovanadium quotation (75-80% V) has only been slightly adjusted to 25.8-26.3 usd/kg V DDP (the lower limit of the previous day's quotation range has been reduced by 0.1 usd/kg V).
For further information of market trends and prices, please get in touch with Hainan West Asia Group .

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