Molybdenum oxide prices nudged higher again Wednesday, predominantly on European business, although activity was relatively slow.
"It has been pretty quiet on our end," said one seller, who concluded an oxide powder business at $12.35/lb in Busan.
"People want to buy at $12.20 and sell at $12.50, which doesn't fly," said one European trader, though he added that there was currently some tightness for oxide powder in Europe.
Consumer sales of oxide powder were reported booked at $12.45/lb in-warehouse, and as high as $12.60/lb for one lot, delivered with payment terms.
The Platts daily dealer molybdenum oxide assessment rose to $12.30-$12.50/lb from $12.25-$12.45/lb the previous day, while the daily European ferromolybdenum assessment narrowed to $29.70-$30.00/kg from $29.60-$30.00/kg.
