European consumers are not interested in purchasing FerroMolybdenum recently
After the rapid rise in molybdenum product prices in Asia and Europe, sellers were forced to lower their prices due to the minimum number of transactions with European buyers.
FerroMolybdenum (60-70% Mo) is quoted at $58.5-60/kg Mo FCA Rotterdam, compared to $56.5-57.5/kg Mo FCA Rotterdam a week ago. However, the price reached $61 per kilogram of Mo last Friday, due to high buying interest in Asia, especially China. At the same time, after a significant increase in prices (an increase of $5 per kilogram of Mo compared to the previous week) and a lack of appropriate consumer support, sellers were forced to lower their prices.
A European trader mentioned in a conversation with Hainan West Asia Ferroalloy Group that "based on current consumption, the price of alloys is very high. Although the level of $59-60 per kilogram of Mo will soon become the starting point for alloy pricing, we should wait for the market to return after the vacation.
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