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Ferrovanadium prices climb as moly drops

Keywords: Tags  ferrovanadium, ferromolybdenum, molybdenum, ferrovanadium prices, ferromolybdenum prices, molybdenum prices, moly demand, Daniel Fitzgerald

NEW YORK — Ferrovanadium prices have ticked up slightly on reports of tightening supply, while molybdic oxide and ferromolybdenum prices dropped further.

Ferrovanadium prices rose to a range of $14.50 to $15.20 per pound from $14 to $15 per pound previously.

One trader told AMM that a major consumer had purchased 20,000 pounds of material at $15.20 per pound, suggesting that a shortage of material led to a willingness to transact at higher prices.

"I’d say the market is a little bit more balanced towards a deficit in supply," he said.

Meanwhile, canned molybdic oxide slipped to a range of $11 to $11.30 per pound from $11.15 to $11.40 previously, while ferromolybdenum moved down to a range of $12.40 to $12.65 per pound from $12.50 to $12.75.

"It’s modestly weaker, there’s still no spot business," one producer said.

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