China molybdenum tradings with Europe and Asia have been decreasing this week as Chinese traders have turned cautious on rebounding prices, market sources have mentioned Thursday.
“We don’t wish to offer this week, as prices have edged up this week and is likely to rise further next week. We plan to resume offering next week, and are eyeing $17.50/lb in-warehouse Rotterdam,” a Hong Kong moly trader said.
In North China, a moly trader said: “We have no moly oxide sales offer this week as we are out of stocks. Our imported Chilean oxide cargoes are being shipped to mainland China, and would arrive next week, so we’ll resume offering by then.”