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."
Molybdenum Manufacturer & Supplier: Chinatungsten Online - http://news.molybdenum.com.cn
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten & Molybdenum Information Bank: http://i.chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Molybdenum News & Molybdenum Price: http://news.molybdenum.com.cn
