Low European Moly Prices Draw in Chinese Importers

MetalBulletin reported that European molybdic oxide is seeing increased interest from Chinese importers because prices are down nearly 20 percent since the end of April.

As quoted in the market news:

This month Chinese buyers agreed on a purchase of more than 600 tonnes of the material for their own production rather than for re-export purposes, sources said on Wednesday July 24. ‘It is the first time after 2009 that European prices are so close to the Chinese market levels, providing opportunities for local ferro-molybdenum makers and traders to import,’ a ferro-molybdenum producer from Liaoning province said.

Click here to read the full MetalBulletin report.