Quotations of ferromolybdenum (60-70% Mo) have risen as deals are mostly closed for small batches. The market is generally quiet, inquiries being rare. The material is sold at $15.75-16.2/lbMo DDP (up 1.4% w-o-w) or $17/lb Mo DDP for prompt delivery. Molybdenum oxide (57% Mo) is not heard to sell, but its price has added 0.8% reaching $13-13.2/lb Mo DDP.

The price dynamics in the 70% Ti ferrotitanium market has been positive. Local companies sell at $3-3.2/lb Ti DDP mostly (up 1.6%). The concerns about the impact that sanctions against Russia will have on prices are nothing else than speculations. In case shipments are affected, supply in the European market will get smaller, pressuring prices in both the EU and the USA. At the same time, changes in FeV prices resulting from the sanctions is more reasonable, given that Russian material is shipped to North America as both the alloy and raw material (vanadium pentoxide).

This week, ferrovanadium (75-80% V) have stayed at $12.5-12.8/lb V DDP. Deals are actually made at $12.4-12.5/lb V DDP (down 1.6%) in view of slower end user activity. Nonetheless, sellers are going to initiate a price increase soon.

Trading is supposed to start growing in September as steelmakers will be enlarging their capacity utilization.

• [Editor:Mango]