In Europe, the price of ferromolybdenum has slightly decreased, while the price of ferrovanadium remains stable

On Tuesday, the price of ferromolybdenum (60-70% Mo) fell back to 56-57usd/kg Mo DDP (last weekend it was 56-58usd/kg Mo DDP). Last Thursday, the market received news that SeAH, the largest molybdenum product manufacturer in South Korea, had withdrawn from the market. The reason is that the accident caused a suspension of production operations. This news has led to a surge in demand and a surge in prices. At present, the manufacturer SeAH has not provided any official information, and the date of resuming production and operation is also unknown.

The quotation for molybdenum oxide (57% Mo) has remained stable at usd 24-24.5 per pound of Mo DDP compared to last weekend. The market is quite inactive, and the price of molybdenum oxide will remain stable at usd24 per pound Mo DDP in the short term.

The price of ferrovanadium (75-80% V) remains stable within the range of 27-27.6 USD/kg V DDP.