End Of Upward Run in Sight for Molybdenum; 'Rot' Temporarily Stops For Fev
Ferro-molybdenum and molybdic oxide prices continued their upward trajectory on Friday, but are expected to come down again before long.
"Short covering by traders looking for molybdic oxide has been reflected in the few deals concluded…but no correspondence in [higher] ferro-molybdenum prices has been noted," a source said on Friday. Metal Bulletin’s molybdic oxide quotation rose to $4.80-5.10 per lb, from $4.60-4.90 per lb previously, and ferro-molybdenum prices were up 30 cents on either end to hit $12.50-13.20 per kg. For more, see the overnight view. Meanwhile, APT prices saw an increase on the high end, rising $10 to $165-195 per mtu, following a relatively large amount of spot business at higher prices.
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