London — Molybdenum oxide started the week Monday with a jump in prices as marketparticipants said interest and concluded business was growing.
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Sources in Asia and Europe said they had received inquiries over the dayfor oxide powder and briquettes. Sales were reported up to $9.05/lb in Busanand $9/lb in Rotterdam. Offers at the end of the day heard at $9.15/lbalthough there was no confirmation at this price level.
"Prices are coming up and the market looks healthy; lets hope it lasts,"one European trader said. Others said the price was being driven up by a lackof availability as well as restocking from mills which was supporting alonger-term trend for prices.
"People have now realized there is not enough material around," a secondEuropean trader said.
In Asia, sources said a South Korean mill tender to be concluded thisweek was driving interest.
The Platts daily dealer molybdenum oxide assessment was higher at$8.85-$9.05/lb from $8.70-$8.90/lb along with the daily Europeanferromolybdenum assessment at $21.80-$22.10/kg from $21.60-$21.90/kg.
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