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Ferro-molybdenum prices resumed their stratospheric rise in Europe on Friday May 9, as supply continues to be tight, placing the market firmly in the hands of sellers.

Prices shot up vertiginously on Friday, hitting $34-34.70 per kg, marking a rise of 5% on the bottom end and 6% on the top end since Wednesday, leaving market participants scrambling to keep up.  The move also marks a rise of about 40% from the lowest levels so far in 2014, of $24.45-24.70 per kg, which were last seen in February. "Prices are crazy and people are going crazy as well. There's [almost] no material in the market," a producer said.  Molybdic oxide prices saw the same kind of rise on Friday, climbing to $14-14.50 per lb, from $13.40-13.75 per lb previously, implying a possible conversion price.

• [Editor:Mango]