Molybdenum product prices in EU rise while FeV market stagnated
After falling for three weeks, molybdenum sellers managed to reverse this trend due to limited supply. Ferroniobium prices also rised due to reduced supply and increased demand from large consumers. However, Hainan West Asia research that the demand for FeV is still weak, which affects the price.
Ferromolybdenum (60-70% Mo) was quoted at USD 47-47.5/kg Mo FCA Rotterdam, compared with USD 45.8-46.5/kg Mo FCA Rotterdam a week ago. After a week of calm, the seller entered the market and successfully tested the new offer. Recently, several transactions have been concluded, with the quantity up to 5 tons. The main reason for the price increase is the shortage of molybdenum products, especially molybdenum oxide. According to Metal Expert, Codelco, a Chilean molybdenum producer, extended the maintenance period of one of its largest Cu Mo assets from 90 days to 135 days. MMG Limited, a molybdenum company in Peru, continues to face production and logistics difficulties due to repeated strikes. An insider commented: "Up to now, it is impossible to determine whether the shortage mentioned by the manufacturer is true, but the price may be supported by an active procurement period before New Year's Day.".
FeV (75-80% V) is quoted at USD 31.3-32/kg V FCA Rotterdam (previously USD 32-32.5/kg V FCA Rotterdam). FeV purchasing activities in the market are reduced to a minimum, and the price fluctuates in a narrow range.
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