European moly oxide price continued to rise, with offer USD9.7/lbMo visible in the market. However, most exporters didn’t hear about transaction at such high level. There were the following reasons for rise: 1. Consumers and traders restocked materials after summer vocation, leading to spot deals increase. 2. Chinese suppliers opted to import moly oxide from Asian market, where its price was lower than China. In addition, As Asian inventory relatively shortened, the business was more than other regions. The moly rise started from Asian market. 3. The deals in Europe once increased last week, but faded this week, where inventory was less tight.
A Shaanxi moly oxide exporter raised offer for moly oxide to USD9.9/lbMo, after receiving inquiries. They transacted on long-term contract, occasionally selling spot material. Chinese market warming up sustained overseas moly market to some degree. Due to two market interaction, European moly oxide would have rising room.