Moly oxide up on growing Chinese buyingLondon 13 May 2009 16:25...

Moly oxide up on growing Chinese buying
London 13 May 2009 16:25


Molybdic oxide firmed on Wednesday as strong Chinese buying continued to support the European market.

Drummed molybdic oxide rose to $9.50-10.30 per lb from $9-10 previously as offers from China continued to pour into Europe.

Most business reported to MB came just under $10 per lb, although one trader sold three containers at $10.10 per lb, and smaller deals were seen at up to $10.30 per lb.

“There’s nothing below $10 any more and prices are up to around $10.50,” one trader said. “Very few people have any material but those that do are offering above $10.”

Not only is China still buying molybdic oxide in great quantities but it is also buying ferro-molybdenum as...