Molybdenum highlights

摘要

Molybdenum traded flat through April with very little business concluded outside of the $34.40-34.807kg Mo range in Europe. Weak manufacturing data from Germany and renewed concerns regarding the euro-zone debt crisis have weakened sentiment further and kept buyers away from the market. Falling molybdenum prices through March can be explained by weak European stainless production. Total European crude stainless output declined 0.4% in February after increasing slightly in the previous three months. With debtworries again beginning to surface in Europe, this time with Spanish bond yields rising, sentiment could take another hit and people may retreat further from the market. Despite this, the pricing slides experienced through March have abated and molybdenum prices have stabilised. Japanese stainless steel production for both the domestic and export market is expected to remain flat in the second quarter. This is despite a strong export market expected for speciality steels in general.