Moly oxide edges lower, but downside seen to be limited

摘要

Molybdenum oxide prices edgedlower again Monday, but indications were thatthe market may be approaching a floor.In overnight Asian trade, most offer levelswere at $5.15-$5.20/lb, with bids at $5.10/lband below. Inter-trade oxide powder sales werereported in a range of $5.10-$5.15/lb in bothBusan and Rotterdam, with some buyinginterest seen from China, prompted bythe arbitrage opportunity between higherdomestic Chinese and lower internationalmolybdenum prices.