London—Molybdenum oxide prices edged higher again Wednesday, at least for nearby sales, though the market remained in backwardation as forward sales were booked at lower prices. "It feels like spot material is getting tighter again," an Asian trader said, citing "more price-checking, short-covering and speculative interest." He added: "We will see if this is another dead cat bounce or a fundamental change in terms of direction."
展开▼