The European molybdenum-oxide market has climbed 20 cents in trading by mid-week, with deals and offer prices reported above $12 per lb and returning to a level unseen since the start of November.
Some oxide trading, however, has been in South Korea where major steelmaker Posco settled a tender for around 100 tonnes of oxide last week at about $12-12.10 per lb. The company is due to settle another tender for longer-term delivery of oxide and alloy through 2019 in the next few days, which may influence European trading, sources said. Fastmarkets assessed the price of European drummed molybdic oxide, in-warehouse Rotterdam, at $12-12.10 per lb on November 28, up 20 cents since Friday.Only 20 tonnes of oxide was traded at $12.05 per lb in-warehouse in Europe, with around...