Moly Oxide Price on the Rise

Platts reported that on Thursday, molybdenum oxide prices continued to increase as producers suggested that the material is in short supply.

As quoted in the market news:

The Platts daily dealer molybdenum oxide assessment moved up to $9.25-$9.35/lb from $9.20-$9.30/lb. Sales were reported at $9.25/lb, $9.30/lb and $9.35/lb in Busan and $9.35/lb in Rotterdam. Briquettes were also sold at $9.50/lb in Rotterdam.

Offers in Asia increased to $9.35-9.50/lb CIF Asia, according to one Chinese trader who said he had not bought any oxide powder over the past few days. ‘I still have stocks in Rotterdam, but am not offering. I’m waiting for prices to increase further,’ he said.

Offers in Europe were at $9.40/lb at the end of the day, but sources said there was no interest at these levels. One European trader said that while he was still receiving inquiries from the trade, there were fewer ‘serious inquiries.’

Click here to read the full Platts report.