Moly Oxide, Ferromolybdenum Prices Jump

Platts reported that prices for molybdenum oxide and European ferromolybdenum jumped yesterday on the back of “extreme tightness for oxide powder.”

As quoted in the market news:

The Platts daily dealer molybdenum oxide assessment climbed to $13.70-14.20/lb on Thursday from $13.30-13.75/lb. The Platts daily European ferromolybdenum (65% Mo) assessment rose to $33.65-34.20/kg from $32.50-33/kg, duty-paid, in-warehouse Rotterdam. Ferromolybdenum also soared in the US, with the Platts weekly assessment climbing Thursday to $16.80-17.50/lb, delivered, from $15.90-16.20/lb on May 1.

The Platts daily oxide price was last assessed at $14/lb on May 11, 2012, while European ferromolybdenum has not been reported higher than $34/kg since May 7, 2012. The US ferromolybdenum assessment is the highest it has been since March 8, 2012, when it was at $16.50-17.00/lb.

Click here to read the full Platts report.