European minor metals market calm

European ferromolybdenum suppliers failed to implement price increases in the absence of demand support. Ferrovanadium prices fell again due to the seasonal slowdown in the market.

Ferromolybdenum (60-70%Mo) price range remained the same as at the end of last week, at $52.1-54.1/kgMo. The positive forecasts of European suppliers did not come true. Weak consumer interest did not allow the implementation of price increases. Molybdenum oxide (57%Mo) quotations fell slightly to $22.5-22.8/lbMo DDP (from $22.6-22.9/lbMo last Friday) Ferrovanadium (75-80%V) quotations also fell slightly to $26.5-27/kg (from $26.8-27/kg last weekend). There is almost no demand. Some sellers offering this alloy have reduced their prices in the hope of concluding a deal.