Molybdenum, ferromolybdenum and ferrovanadium prices have all
slipped as traders try to chase sales during the summer
Canned molybdic oxide
fell to $10.40 to $10.90 per pound from $10.90 to $11.30
previously, while the range for ferromolybdenum tightened to
$11.90 to $12.25 per pound from $11.90 to $12.45. Ferrovanadium
slipped to $12.60 to $13 per pound from $13 to $13.50.
are still going for $13 per pound and over," one ferrovanadium
trader said. "Youre in the summer season. Demand remains
pretty good, but theres a negative perception in the
market. Theres a lack of vision as to what is going on,
and to some extent traders are trying to minimize risk and
liquidate positions, so when theres spot business
youve got several people eager to sell."
However, a second
ferrovanadium trader said that despite the scarcity of spot
activity, overall volumes were still strong. "Were going
to have the best month in terms of volume to contract customers
that weve had in a year. Overall sales are good, but spot
sales are slim pickings."
molybdenum producer said he likely would sit out the market
while prices decline. "The market seems to be falling away
faster than makes sense," he said. "Steel companies wont
necessarily buy any less if you dont lower the price, and
theres not really that much ferromolybdenum available. I
dont want to sell at these levels."