Sentiment Shifts in Molybdenum Oxide Market, Offer Levels Move Higher
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- Category: Molybdenum's News
- Published on 19 October 2015
- Written by yiping
- Hits: 570
Molybdenum oxide prices showed signs of stabilizing Thursday after a seemingly relentless slide in recent days, with offer levels actually moving higher during the European day as buying interest picked up.
"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."
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