EU ferromolybdenum prices hit a new high in last three months

The prices of molybdenum products in Europe continue to rise, and the prices of ferromolybdenum continue to rise, accelerating the pace of appreciation. The quotation for ferromolybdenum (60-70% Mo) is $54.5-55.5/kg Mo FCA Rotterdam, compared to $53-53.5/kg Mo FCA Rotterdam a week ago. 

Although the Asian market remains the main reason for price increases, Europe has also become more active in the past few days. Not only are traders searching for materials now, but local consumers have also decided to replenish their inventory. 

A European seller mentioned in a conversation with Hainan West Asia Group: "No one could expect prices to rise like this in August because at least the first half of the month was always very inactive. The materials in the market are getting scarce, and some people are already worried about how prices will rise starting in the autumn.

It is worth noting that prices in Asia are also rising every day, while Chinese suppliers are increasingly unwilling to offer prices to Europe, each time widening the pricing gap between Asia and Europe.