Molybdenum Overnight View: FeMo, MoO3 Prices in For Small Bounce
As market participants reported a short-term reaction to the news of the major earthquake in central Chile.Ferro-molybdenum and molybdic oxide prices looked likely to rise heading into Friday September 18. Although the earthquake is unlikely to affect production directly, as most output is located further north in Antofagasta, there is likely to be a temporary shift in sentiment, sources said. It is conceivable that ports in the country may be affected, participants suggested, as the earthquake produced tsunami warnings along the Chilean coast and even as far north as California, but this has not been confirmed.
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