Ferro-molybdenum suppliers booked sales in a tighter range during the 3 July assessment, drawing support from upstream supply concerns that helped lift prices globally for molybdenum products. Sellers of other noble alloys kept offers relatively flat, describing subdued interest from consumers ahead of the July 4th holiday.
Ferro-molybdenum
Prices for 65pc grade alloy tightened to $25.50-25.75/lb fob North America warehouse from $25.25-25.75/lb.
A trader sold 6 metric tonnes (t) at $25.85lb on a delivered basis to a foundry, which would net back to the assessed Argus range. One seller noted an unconfirmed truckload transaction to a steel mill late last week at the same price, while another supplier described intertrade business for a truckload concluding around $25.40/lb delivered.
A stainless steel producer was seeking a truckload quantity this week, but it was not clear to Argus whether that inquiry had closed by publication time. Some sellers were expecting that sale to go above $26/lb, given the premium that larger volumes could command currently with prompt availability described as tight, they said.
Oxide prices rose to $21.75-22.25/lb fob US warehouse from $21.50-22/lb, primarily reflecting overseas gains that underpinned higher starting offers from domestic suppliers. Concerns of tighter supply of molybdenum concentrates and oxides, along with steady purchasing, out of Asia has boosted the global complex. Still, spot market inquiries in the US remained lackluster, with only traders seeking pallet-size quantities this week.
Ferro-titanium
Prices for 70pc grade alloy were unchanged at $2.60-2.80/lb fob North America warehouse.
Suppliers indicated no new transactions for full truckloads this week, while at least one producer reported securing orders for less-than-truckload (LTL) quantities. Sell-side sources expect mill and foundry buyers to return to the spot market with inquiries after the long weekend, with cored-wire producers already having secured their third-quarter needs in the first half of June.
Alloy sellers were split on market outlook, with some maintaining optimism that prices will rise headed into the fourth quarter based on expectations of higher utilization rates that have been underpinned by marginal increases already. Still, others say persistent declines in European demand will pressure the US market, as overseas ferro-titanium producers seek to take advantage of an arbitrage opportunity.
Ferro-vanadium
Prices for 80pc grade alloy held between $13.75-14.25/lb fob North America warehouse.
Suppliers continued to offer on either side of $14/lb, with at least one seller quoting above $14.50/lb because of the origin of material. Still, a steel mill bought 12,000lbs of standard-grade alloy below $13.90/lb this week, based on where some traders who missed the business were offering. Another supplier sold 4t at $13.85/lb delivered to an end user, but other details about the transaction — including packaging requirements — were not disclosed.
Certain producers continued to remain on the spot market's sidelines, prioritizing shipments to contract customers either because of production challenges or because of the uncertainty around US tariffs — given that ferro-vanadium was not exempt from a baseline 10pc duty imposed on most countries. Other traders reportedly were choosing not to offer below $14/lb, waiting to see if reciprocal tariff rates would be implemented next week, which would raise import costs for alloy sourced from Europe.
