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Print[Ferro-Alloys.com] Chinese traders are studying the possibility of buying Western-origin molybdenum oxide from the spot market if prices fall to $9-9.20/lb CIF or ex-warehouse levels, Asian market sources said Wednesday.
One Chinese trader, who typically re-sells Western-origin moly oxide to Asian and European buyers, said he would consider buying from overseas at $9/lb, as Chinese domestic moly concentrate prices have been stabilizing at Yuan 1,400/metric ton unit ($226/mtu, or for 10 kg of moly contained in one ton of concentrate).
The Yuan 1,400/mtu concentrate price is equivalent to around $10/lb.
"Domestic moly concentrate prices have been stabilizing at Yuan 1,400/mtu, already close at the domestic miner's acceptance limit," the trader said.
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