Moly Market Watching Chinese Imports

Platts reported that molybdenum market participants are closely watching how import demand from China will impact global spot molybdenum prices.

As quoted in the market news:

Platts has not confirmed any deals, firm bids or offers for imports into China Friday. One China-based trader, however, reported hearing talks of deals done at $9.05/lb CIF for August delivery, and latest offers were at $9.00/lb CIF China.

A Chinese producer source commented he was not surprised to see offers at $9/lb CIF.

He however, warned: ‘Now those wanting to import are assuming prices will hold at $9/lb, but if it continues to drop, these potential buyers may shun [the market] again.’

Click here to read the full Platts report.