EU molybdenum prices likely to increase further (www.proactiveinvestors.com.au) Updated: 2010-03-05 15:39 Counter:182
European iron molybdenum prices are on the rise and likely to increase further in the following months. The current price of iron molybdenum was about USD 41.5 to USD 42 per kilogram in Rotterdam, up over the USD 36.5 per kilogram of last month.
A trader claimed that the current prices didn't decline in the stable market. China returned to market after Festival, so the total consumption is good in European market.
Another trader claimed that market is accelerating development, and it slowed down in the week of February 22nd 2010 to February 26th 2010, but it still remained stable. Stainless steel output increased and the demand is stable, so price will advance further.
Link Trading expects that the price will reach USD 43 to USD 44 per kilogram around, but it is still uncertain whether it can reach USD 50 per kilogram.
GDA Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
