Molybdenum highlights

摘要

Ferro-molybdenum prices in Europe have soared in early 2013. The gains have resulted from a bullish tone in the raw materials markets; most notably in iron ore prices. Market participants are confident of a strong revival in the steel market compared to 2012 and as a result, molybdenum demand is forecast to increase. In combination with the possibility of tightening global supply, ferro-molybdenum prices are forecast to climb above their 2012 average of $31.38/ kg in Europe and $32.72/kg ($14.84/lb) in the USA. While US steel capacity utilisation rates are down in early January compared with late December, the avoidance of the fiscal cliff will buoy steel production in the coming weeks and spur demand. In China, the expected continuation of restocking activities will ensure demand remains robust ahead of the Chinese New Year holidays.