Molybdenum price hits 4.5-month high on strong buying from Asia

Asian market activity continued to lead the uptrend in molybdenum prices in the first half of the week with the oxide and alloy markets reaching four and a half month highs, sources told Fastmarkets on Wednesday September 9.

Fastmarkets' price assessment for drummed molybdic oxide, in-whs Busan moved up by 4% to $8.50-8.60 per lb on September 9 from $8.15-8.30 per lb the week before.
“The market in Asia is going up again with more inquires and suppliers struggling to deliver all the quantities,” a trader in Europe said.

Spot market activity continued to increase with business reported in the new range and offers moving up to $8.80 per lb,...

Published

Ewa Manthey

September 10, 2020

13:46 GMT

London