Molybdenum highlights

摘要

Ferro-molybdenum prices in Europe are at a level last seen in September 2012, while US prices are at twelve-month peaks. The move followed news of a shortage of raw materials and producers' reluctance to sell in a strengthening market. The European market has improved more than one-third in the past few weeks, surprising most dealers in the market, with prices seen increasing several percent more through May against no sign of a let-up in short-covering while material is held in strong hands. Chinese prices are also moving higher after retreating during the first quarter. Tightening supply together with upward pressure on nickel prices are behind the reversal in Chinese ferro-molybdenum prices. We expect to see further gains in ferro-molybdenum prices globally in the coming weeks.