The weak procurement activity in the EU molybdenum product sector continues to affect prices.

After the price increase last week, the price of ferromolybdenum (60-70% Mo) once again dropped to $47.3-48/kg Mo FCA Rotterdam, while the price at the end of last week was $48.5-49/kg Mo FCA. However, the most commonly mentioned price is $47.5 per kilogram of Mo.

According to the information received by Hainan West Asia Group, if a transaction is reached, it is possible to achieve a lower price - even below $47 per kilogram of Mo.

Due to weak demand in the market and consumers refusing to support previous price increases, European sellers are attempting to take advantage of Asian trends in negotiations with buyers. However, the sentiment in Asia, especially in China, has also become more pessimistic.

The quotation for molybdenum oxide (57% Mo) dropped to $17.5-17.9 per pound Mo FCA Rotterdam (a week ago it was $19.5-20 per pound Mo FCA).