A New Round of Price Rise in the European Molybdenum Product Market

The supply of molybdenum materials in the European market continues to decline, encouraging local sellers to raise prices again.

Hainan West Asia has received news that the price of ferromolybdenum (60-70% Mo) has increased to 53.2-54.5 USD/kg Mo FCA Rotterdam, compared to 52.7-53.3 USD/kg Mo FCA Rotterdam a week ago. Meanwhile, the transaction price is within the lower limit of the quotation range. The main reason for the price increase is the reduction of the quantity of materials on the Spot market. Therefore, due to the steady rise in prices and increased purchasing activity in Asia, especially in China, major sellers have shifted all their attention to the region. A European trader commented: "Materials in Europe are indeed scarce, but consumption is quite weak, so price increases are not supported by transactions. It is still difficult to determine further development in this field.
Hainan West Asia believe that prices will soon return to their previous levels, as even without a large influx of alloys from Asia and South America, European traders have signed long-term contracts for monthly product delivery, which will restore balance to the local market. However, in another scenario, the intensification of shortages, coupled with the end of summer and the resumption of consumer purchases, may also lead to faster price increases of up to $60 per kilogram of Mo.
Molybdenum oxide (57% Mo) is quoted at USD 22.7-22.9 per pound of Mo FCA (USD 22.3-22.5 per pound of Mo FCA a week ago).
For further information of market trends and prices, please get in touch with Hainan West Asia Group 

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