Molybdenum oxide prices lost their upward momentum following the return to normal operations by one of the world's top molybdenum producers, Jinduicheng Molybdenum Co (JDC Moly), on Thursday August 20.
Molybdenum oxide prices had risen in all regions in Fastmarkets assessments after flooding in China's Shaanxi province on August 5 that disabled about 60% of JDC Moly's concentrate output.Fastmarkets assessed the price of molybdenum, canned molybdic oxide, in-whs Pittsburgh, at $7.75-8 per lb on August 20, narrowing upward by $0.15 per lb from $7.60-8 per...