MOLYMANIA the race is on Message Board

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Gold/Mining/Energy : MOLYMANIA the race is on

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To: Condor who wrote (320)	8/10/2005 1:08:18 PM
From: vireya	of 336

(AMM) US ferro-molybdenum prices climb as flow out of China slows New York 09 August 2005 22:19 US ferro-molybdenum prices have nudged higher on tighter supplies caused by a weaker flow of material from China to the USA. Free-market ferro-molybdenum has risen to a range of $36.50-37.50 per lb from $34.50-35.50 previously as traders and consumers report nearby tightness caused by a decrease in imports of the metal from China. “Traders were not willing to take a position with Chinese producers when the market dropped from the $40 range, so this has meant there is not as much material around at the moment,” one trader said. “For small tonnages of the smaller lumpy material, we have heard that business has been concluded around $38.” Demand for steel additives and hardeners has held up despite the summer slowdown in the steel sector, and traders report signs of firmer demand as the industry returns. Another trade source reported concluding business for half a truck of ferro-molybdenum at $37.50 per lb. “Things are certainly starting to pick up following the dip in July,” he said. “The situation in China is the determining factor, with mines shutting in February and more material now staying in the country.” Molybdenum oxide appears rangebound at $29-31 per lb, having fallen since mid-July. The quiet summer months also have hit the vanadium market, with traders reporting ferro-vanadium stable at $30-31 per lb and vanadium pentoxide unchanged at $12-15 per lb.

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