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 reported in Busan, South Korea, at...