London—Molybdenum prices continued to trend higher July 23 with a lack of prompt material in Busan seeing prices rise 10 cents overnight. The Platts Daily Dealer Molybdenum Oxide assessment was at $6.90-$7.30/lb July 23, up from $6.85-$7.30/lb July 22. “I can't find any offers in Busan,” one Asian trader said, while others said they were rejecting bids at $7.25/lb and offering at $7.30/lb. Market participants said those looking for oxide powder in Asia had woken up to higher prices with sales in China also seeing more activity at $7.20/lb and higher.
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