Chinese Traders May Buy Western Molybdenum Oxide if Prices Fall
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- Category: Molybdenum's News
- Published on 18 July 2013
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It is reported that if prices for Western-origin molybdenum oxide fall to between $9 and $9.20 per pound, Chinese traders may consider buying it on the spot market.
One Chinese trader, who typically re-sells Western-origin moly oxide to Asian and European buyers, said he would consider buying from overseas at $9/lb.
As Chinese domestic moly concentrate prices have been stabilizing at Yuan 1,400/metric ton unit ($226/mtu, or for 10 kg of moly contained in one ton of concentrate).
The Yuan 1,400/mtu concentrate price is equivalent to around $10/lb. ‘Domestic moly concentrate prices have been stabilizing at Yuan 1,400/mtu, already close at the domestic miner’s acceptance limit,’ the trader said.
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