Molybdic oxide and ferromolybdenum prices have ticked up
slightly, but producer sources are hesitant to describe the
movement as a rebound.
Molybdic oxide is
trading in a range of $9.20 to $9.40 per pound, up from $9.10
to $9.30 previously, while ferromolybdenum has risen to $11.10
to $11.40 per pound from $11 to $11.30.
Producer sources told
AMM that the movement was more indicative of price
stabilization than a recovery, with market participants
previously predicting that molybdic oxide prices could fall
below the $9-per-pound mark for the first time since May 2009
amm.com, July 26).
"I would say its
reflecting stability; its still been relatively quiet,"
one producer source said. "I do think its a little hard
to predict demand right now, so I wouldnt expect prices
to move far up or down from here."
The movement "is so
slight that its hard to point to anything specifically,
demand-wise," a second producer source said. "It could be
buying in anticipation of increased orders in September, but