Asian Moly Oxide Edges up 0.7% on Demand Pickup, Tighter Supply

Platts reported that increased demand for molybdenum pushed prices up this week.

The market news is quoted as saying:

“Demand is stronger this week as some steel mills are low on moly oxide inventory,” a Henan province-based trader said. “We have received a lot of inquiries from traders in Europe, a few who are willing to pay $14.90/lb, but we are not offering as we see prices picking up around August.”

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