Molybdenum

摘要

Oxide and FeMo price falls have accelerated sharply through late June and early July. We understand that this is primarily a function of seasonal effects as major consumers reduce production over the summer. We also believe that these declines reflect slightly weaker than anticipated underlying demand, particularly in Europe and - more ominously - in China. These falls came despite what we believe to have been two consecutive quarters of deficit in the molybdenum market.