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>>Growth in steel demand, drive molybdenum prices
According to traders contacts reflected prices rose sharply following the September after molybdenum prices in recent weeks has been flat in Europe. Rotterdam warehouse molybdenum price is currently about $ 38-38.50/kg, compared with $ 41-42/kg a few weeks ago the price down. One trader said: "The market is stable over the past few weeks, but I think the price is still too high, which is being driven by rising prices of molybdenum oxide, the current demand has been reduced oxides." Another trader said that the current producers and traders seem to game in progress, which wants to finalize the goods, while producers are intends to sell products to steel mills, the reason may be the soaring price of molybdenum. Moreover, with the growth in steel consumption in Europe is expected next year, molybdenum prices are expected to rise. The trader said: "In mid-November meeting of the main alloy generated during the large numbers of transactions, it is expected prices will rise, but then again was quiet market or will."
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