- Nickel prices accelerated into the second half of July, but market participants agree that a ceiling has already been reached. An early pick up in demand is met by a return of Vale’s Canadian output, positive news from Goro and reports that nickel pig iron producers are restarting furnaces.
Ferrochrome: onto the up side of the U
- The ferrochrome market hit bottom in the last week of July and has since started to improve. Although, spot purchases remain thin, and most production for the current quarter has already been sold, conditions seem right for a rebound in prices once the steel mills start buying for September.
Molybdenum: prices stabilise for now
- Despite the summer slowdown, moly prices have risen in the last week as Chinese production is hit by floods and intra-trade deals raise expectations of restocking.