As the holiday season draws to an end, global molybdenum demand is experiencing a mild improvement in Europe and the USA, driven predominantly by a slight increase in trader purchasing activity. On the back of expectations that demand will pick-up in the final quarter of the year, if only modestly, various traders have raised their spot market enquiries. However, the volume of business concluded still remains small. Despite the apparent willingness of traders to return to the market and re-stock, the general purchasing strategy remains cautious and prices in Europe for both moly oxide and Femo are broadly flat on August levels, while Femo prices in China are down significantly. Indeed, as international markets remain clouded by economic uncertainty, following the persistent debt problems in Europe and the USA, the political turmoil in Japan and a slow manufacturing environment in China, the current modest upturn in purchasing activity is not being interpreted as a reflection of the start of the long awaited recovery.
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