Molybdenum--US and European prices rally early in the new year

摘要

Molybdenum prices in both Europe and the US have risen since the start of the new year as traders returned to the market following their year-end holidays. Since December 2010, oxide prices increased by over $1/lb, while FeMo prices rose by almost $4/kg. Meanwhile, activity in China's market for molybdenum has thus far remained limited, allowing prices to stabilise. A muted market during the first two months of the year is not uncommon in The People's Republic as the country prepares for Chinese New Year, its biggest annual celebration.