Moly Oxide Prices Stabilize on Increased Buying Interest

Platts reported that moly oxide prices showed signs of stabilizing Thursday, with offer levels moving higher during the daytime in Europe. The stabilization follows a “seemingly relentless slide” in recent days.
As quoted in the market news:

“Today we have seen a lot more activity coming from the traders looking for material,” said one European trader, who picked up prompt oxide powder at $4.35/lb ex-warehouse Busan.
“This can be explained by the fact that one of the producers has stopped offering and others are relatively tight on the availability of spot cargo,” he added.
A second European trader said offer levels pushed above $4.50/lb as the day progressed, adding that there was “lots of buying interest today but not many sellers.”

Click here to read the full Platts report.