It is reported that European molybdenum price slid below USD 9 per pound for the first time in 5 years, staying at USD 8.9 per pound to USD 9.4 per pound.

While ferromolybdenum price also dropped to USD 21 per kilogram to USD 23 per kilogram from three weeks' earlier level of USD 24.5 per kilogram to USD 26.25 per kilogram.

Meanwhile, China's ceasing purchase pushed the molybdenum price to fall below USD 9 per pound. It will sink another 10% to allow some workable margin for ferromolybdenum factories with present Mo Fe price level.

(Sourced from YIEH.corp)