Molybdenum oxide prices nudged higher Wednesday after a stable start to the week as buying interest picked up, sources said.
"There were several container loads of powder concluded in Europe and Busan in range of $5.32-$5.37/lb yesterday and today," said one European trader, with producer-trader sales confirmed at the high end of that range.
"We're offering $5.40[/lb] in Europe but it doesn't look like there is much appetite at this level yet," said a second trader, but added that business had been concluded at $5.40/lb in India.
The Platts daily dealer oxide assessment rose to $5.30-$5.40/lb from $5.25-$5.35/lb the previous day, while the daily European ferromolybdenum assessment rose 5 cents to $13.45-$13.75/kg.
Trade purchases were booked in the range of $13.50-$13.75/kg, with low-silicon fines reported sold at a price closer to $14/kg.
A supplier also reported small 3-5 mt lots of standard ferromoly sold at around $13.85/kg.
