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Platts reported that although spot buying interest for molybdenum oxide was “subdued” on Monday, prices are fairly well supported at current levels. One European buyer remarked that the market has stabilized.
Platts reported that although spot buying interest for molybdenum oxide was “subdued” on Monday, prices are fairly well supported at current levels. One European buyer remarked that the market has stabilized.
As quoted in the market news:
‘Toward the end of Friday, people were talking $9.60-65 for oxide, though we never saw it transacted at that level,’ said one European trader, pegging the indicative range at $9.50-9.55/lb.
‘We’ve seen two offers at $9.50, but we’re not interested in buying at that price,’ the trader said. ‘I can’t really see any reason why the rally should continue, it looks like it’s probably had its day.’
A producer said the oxide market was above $9.50/lb but had no specific deals to report, while a second trader offered oxide unsuccessfully at $9.60/lb.
‘The market is holding. It’s not firmer, but it’s holding,’ the second trader said.