Moly Prices Today: Steady After Summer Drop Moly prices today are holding fairly steady since a steep June drop off.
At the end of 2014, moly market watchers were predicting positive price action for the metal at the beginning of 2015, with lower prices taking over in the latter half of the year.
As it turns out, those predictions were correct, but only to a point. As the below chart from the London Metal Exchange shows, moly prices ticked upward very briefly at the start of 2015, only to fall steeply later in Q1. And while prices for the metal were able to hold steady during Q2, at the end of June they plunged steeply again.
In terms of moly prices today, one bright side is that since that June drop off, they are steady once again. Most recently, Platts reported midway through September that the daily European ferromoly price was level at $14.40 to $14.80 per kilogram.
Oxide prices were faring less well at that time, and were assessed at $5.55 to $5.70 per pound, down from $5.60 to $5.75. And unfortunately, little improvement is expected in that arena in the near term — as one seller told the news outlet, market participants “know the oxide price is coming down.” |
