European spot prices for molybdic oxide have increased so far this week amid higher deals done in Europe and in Asia, while ferro-molybdenum was steady and is set to move up if oxide prices increase again, sources said.
One major consumer in the steel sector, South Korea's Posco, is expected to settle tenders for 200-300 tonnes each of oxide and ferro-molybdenum by the end of this week, which should provide near-term direction for spot oxide prices, participants said. Metal Bulletin assessed European molybdic oxide prices at $11.25-11.40 per lb in-warehouse Rotterdam on Wednesday, up from $11.10-11.25 per lb on Friday. Ferro-molybdenum prices in Europe were stable at $27.50-28.00 per kg in-warehouse Rotterdam on Wednesday, unchanged from Friday. Oxide prices have been moving...