NEW YORK Domestic
ferromolybdenum prices have fallen as producers were said to be
aggressively chasing a handful of consumers that came into the
spot market this past week.
"The producers need to sell
before the end of the year," one trader said.
Prices are now between $12.35
and $12.65 per pound, down from between $12.60 and $13 per
pound previously, with consumer business for half-truck and
truckload quantities reported at both ends of the range this
Prior to the flurry of
low-priced activity this past week, the U.S. ferromolybdenum
market had been quiet for weeks as consumers were largely
At the same time, molybdic oxide
prices have strengthened as some suppliers sit out.
"The producers dont want
to sell anything (intertrade) at the moment," the trader
Molybdic oxide tags are now
between $11.10 and $11.50 per pound, up from between $11.10 and
$11.30 per pound previously, with truckload business concluded
at the high end of the range this past week.