Molybdenum Market Overnight View
There were small increases on the cards for most noble alloys prices in Europe, as market participants reported something of an uptick in buying activity heading into Wednesday October 21.
Late on Tuesday, ferro-molybdenum prices, which dropped below $12 per kg on Friday to $11.95-12.50 per kg, looked likely to sit comfortably above $12. Molybdic oxide prices, furthermore, appeared to be heading for levels above the high end of the range, which currently stands at $4.20-4.50 per lb. There is some scepticism over whether this upturn will continue over the long-term, or even last beyond a few days, as previous upticks have tended to peter out after only a very short period. "
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