prices wont improve before year-end, market participants
"It seems to be steady as she
goes. Its very much hand to mouth, and that seems to be
continuing," one trader told AMM sister publication
Metal Bulletin. "There are no real forecasts for next
year, but there is a risk of closures and cutbacks."
This year, market participants
have had to grapple with price lows approaching those witnessed
during the worst of the financial crisis in 2009, as well as
sudden and significant rises.
In the final two weeks of
August, prices rose to a high of $33.10 per kilogram ($15.01
per pound), up 23.7 percent from the periods low point of
$26.75 per kg ($12.13 per pound). In early October, they then
came hurtling back down to $26.50 per kg ($12.02 per
"Theres nothing really
going on now. Volumes are still slowing, and the spot market is
pretty dead," a second trader said.
Ferromolybdenum prices moved up
slightly on the low end Wednesday, as market participants
reported no business much below $27 per kg ($12.25 per pound),
but noted no breakthroughs past the previous high of $27.40 per
kg ($12.43 per pound).
The Metal Bulletin
quote stood at $26.90 to $27.40 per kg ($12.20 to $12.43 per
pound) Wednesday, but isnt expected to rise much further
Molybdic oxide prices remained
flat at $10.90 to $11.15 per pound.
A version of this article
was first published by AMM sister publication Metal