Minor Metals Update

The European molybdenum market was ablaze in late March as strong mid-stream demand brought about a substantial price increase to around US$ 23,000/tonne on the LME. The scarcity of spot material was also a key factor. In contrast, cobalt moved largely sideways in response to what sources in Europe have described as a market with stable demand and solid inquiries. In April 2014, LME cobalt was priced in the range of US$ 30,500/tonne.