The global molybdenum market continued to move up in the first half of the week starting on July 22 amid increased spot activity in Asia, with the European market following it higher.
Fastmarkets assessed the price of drummed molybdic oxide, in-warehouse Busan, at $11.90-12.10 per lb on Wednesday July 24, up from $11.75-11.85 per kg the previous week.Strong demand from the steel market in Asia increased liquidity and pushed the price back up after it dipped to $11.50-11.70 per lb on July 10.The last time molybdic oxide prices in Busan were trading above $12 per lb was on...