Consumers have been slow to show buying interest for fourth-quarter smelting schedules, however, and so far have mostly adopted a wait-and-see approach to potential deals in September, sources said.
But more deals are expected to be heard through the month and these should provide a clearer view of the near-term spot price direction for both molybdenum oxide and ferro-molybdenum, the price of which has recently been lagging behind.
Metal Bulletin assessed the price of European drummed molybdic oxide, in-warehouse Rotterdam
, at $12.25-12.40 per lb on September 12, up by $0.10 per lb from the previous Friday.
There were at least 40 tonnes of reported trades in oxide, all within the latest price range. Another trade for oxide was...