Ferro-molybdenum slipped further on Friday as the European economic troubles kept many buyers on the sidelines.Western-grade ferro-molybdenum fell to $42-44 per kg from $42.50-44.50 per kg previously, though business volumes were down on recent weeks.Market participants polled by MB said that the worst of the contagion has ended and prices had stabilised by the end of the week. “The market was very quiet but it appears that ferro-molybdenum is recovering a little bit,” a trader said. “The worst is over, and the market is now dominated by the typical May scenario – fewer working days because of public holidays and, consequently, less demand.”Western-grade ferro-molybdenum fell to $42-44 per kg from $42.50-44.50 per kg previously, though business volumes were down on recent weeks. |