Molybdenum oxide prices were unchanged Friday as market participants said the market was firm to stable.
Spot oxide sales were reported at $6.75/lb in Busan and $6.85/lb after Thursday's cutoff time.
"Everybody was upbeat after the 'Trump jump' and now metals are coming off 5-8% on exchanges. The effect was overdone," one European trader said, adding molybdenum was stable.
Others agreed molybdenum oxide prices looked firm going into next week as supply was tight, in particular for molybdenum briquettes. "The market is expecting prices to go up further," a second European trader said.
The Platts daily dealer molybdenum oxide assessment was unchanged at $6.70-$6.80/lb, as was the daily European ferromolybdenum assessment of $16.90-$17.20/kg.
