Tokyo (Platts)--22Feb2013/600 am EST/1100 GMT
Spot buyers and sellers of molybdenum oxide powder appeared to be moving closer to narrow their price idea gaps, as more offers at $11.25-11.30/lb CIF Busan were reported Friday. A Chinese trader has offered $11.25-11.30/lb CIF Busan, in addition to another Chinese trader offering $11.25/lb CIF Busan as reported by Platts Thursday. Most other Asian traders were offering $11.30-11.40/lb CIF Busan, while South Korean buyers bid $11.20-11.25/lb CIF Busan. "The outlook for better prices in the coming week has wavered, and Chinese traders are no longer suspending offers, instead they are offering...and they are no longer setting a lower limit when offering," the Chinese trader said. But not all sellers are offering lower. Article continues below...Metals Daily now available on Platts Market CenterPlatts Metals Daily is now available for subscribers on Platts Market Center, an interactive website featuring Platts news, market commentaries, proprietary price assessments and archived content, as well as the daily PDF. PMC will also make available several key US benchmark assessments to subscribers earlier in the US day than with the current PDF-only delivery mode. PMC also includes archived proprietary prices and a custom graphing feature. PMC offers a mobile version viewable on PDAs and smart phones. For further information on registration, please contact Customer Care: support@platts.com
Spot buyers and sellers of molybdenum oxide powder appeared to be moving closer to narrow their price idea gaps, as more offers at $11.25-11.30/lb CIF Busan were reported Friday. A Chinese trader has offered $11.25-11.30/lb CIF Busan, in addition to another Chinese trader offering $11.25/lb CIF Busan as reported by Platts Thursday. Most other Asian traders were offering $11.30-11.40/lb CIF Busan, while South Korean buyers bid $11.20-11.25/lb CIF Busan. "The outlook for better prices in the coming week has wavered, and Chinese traders are no longer suspending offers, instead they are offering...and they are no longer setting a lower limit when offering," the Chinese trader said. But not all sellers are offering lower.
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Platts Metals Daily is now available for subscribers on Platts Market Center, an interactive website featuring Platts news, market commentaries, proprietary price assessments and archived content, as well as the daily PDF. PMC will also make available several key US benchmark assessments to subscribers earlier in the US day than with the current PDF-only delivery mode. PMC also includes archived proprietary prices and a custom graphing feature. PMC offers a mobile version viewable on PDAs and smart phones. For further information on registration, please contact Customer Care: support@platts.com
A South Korean trader said he was being offered $11.50-11.60/lb CIF Busan and he could not find offers at below $11.30/lb. One South Korean company source reported buying 60 mt in total earlier this week at $11.30-11.35/lb CIF Busan. There were market talks of deals settling at $11.25/lb CIF Busan but Platts has not been able to confirm. Meanwhile in Japan, two stainless steelmakers have ramped up their output to full capacity over January-February ahead of possible electricity power rate hikes after April, said several trade and mill sources. But they were not buying moly oxide from the spot market as there was no rise in demand for moly-containing stainless steel such as SUS316 grade, said traders. --Mayumi Watanabe, mayumi_watanabe@platts.com--HongMei Li, hongmei_li@platts.com--Edited by Jeremy Lovell, jeremy_lovell@platts.com
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