External market: ferromolybdenum prices rose, molybdenum oxide prices stabilized
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“There is not much supply available in the market, and the inventory of merchants is quite limited. Until now, our sales are relatively good,†said one producer.
In addition, although market quotations have begun to increase slowly, the price of molybdenum oxide remained stable at $11-1.1/lb. A manufacturer said, “The current price of molybdenum oxide in the plant is 11.1~11.2 USD/help, but the actual transaction price is about 11.1 US dollars/pound molybdenum. The market trend tends to be stable in the next few days because the overall market trend and fundamentals are Not so strong."
Although the Chilean workers’ strike has come to an end, there are still many problems in some transactions from Chile that need to be resolved. Another producer said, “It takes about 30 days for the raw materials purchased from Chile to be received. This depends mainly on the time when the goods leave the port. Port cargo congestion is still serious and will continue for a while in the short termâ€. However, according to market participants, the strike situation in Chile has not had a major or direct impact on market prices.