Prices for molybdic oxide have soared in both Asia and Europe over the past six weeks, but prolonged transit times caused by lengthy waits for a shipping slots; longer shipping times due to increased transhipment; and higher freight costs overall, mean oxide prices are maintaining a healthy premium in Europe.
“Busan is well supported with stock but there are fewer shipments from Asia to Europe. There has to be a premium to justify the risk and logistics cost,” a trading source said.
Molybdic oxide was trading in a range $16.50-17.60 per lb in Europe during the first half of this week, according to Fastmarkets’ June 9 price assessment for molybdenum drummed molybdic oxide 57% Mo min, in-whs Rotterdam
. By comparison, the price assessment for molybdenum drummed molybdic oxide Mo, in-whs Busan
was at $16.50-16.80 per lb on the same date.
Taking the midpoint of Fastmarkets’...