April 2012 | Ferro-alloys
The downside risks are greater for European molybdenum prices: Molybdenum Highlights
US prices enjoy uptick in mid-April, resulting in widening margin over European prices.
European 65-70% ferro-molybdenum prices traded slightly higher in April, with deals being done in the $34.40-34.80/kg Mo range. The monthly average is slightly down on the March average of $34.68/kg. Looking ahead, MBR expects European prices to remain volatile and oscillate around their current levels stainless production is unlikely to crash, but there is limited upside risk for production without sustained increases in demand that will arise from improved consumer sentiment.
European mine production of molybdenum increased 4.2% month-on-month in February to 1,200 tonnes. Global mine production climbed slightly less, at just 3.95% month-on-month in the same period to 21,900 tonnes.
A continued recovery in the USA is likely to support prices in the coming months
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