Chinese Traders Suspend Spot Moly Oxide Offers

Platts reported that today some Chinese traders suspended offers for spot molybdenum oxide in Asia following a low deal. They are waiting for signs of improvement.

As quoted in the market news:

A deal below $13/lb was reported Thursday, prompting some Chinese traders to suspend offers as their price expectations are higher.

A South Korean trader reported the deal at $12.80/lb CIF Busan for Western-origin moly oxide powder. In Europe, there was talk of sales at $12.50-12.60/lb in-warehouse.

‘Prices may stabilize as Chinese traders say they are not going to export moly oxide below $13/lb,’ said the trader who bought at $12.80/lb CIF.

Click here to read the full Platts report.