Ferromolybdenum poised for '05 price gains
Dec 29, 2004 | 10:56 AM
| David Brooks
Ferromolybdenum prices are expected to continue their recent rise when business picks up again after the holiday lull.
Prices surged in recent weeks on strong demand from steel producers and limited supplies from both domestic and overseas producers. While there have been limited transactions this week due to the holidays, most market participants anticipate further price increases in the New Year.
"I expect further movement up in January," one consumer told AMM. "There's just not enough conversion capacity available." The steel mill buyer quoted a $36-a-pound price paid for ferromolybdenum for January delivery, and the same price for molybdenum oxide.....
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