Metal Powder Report reported that according to the International Molybdenum Association, global molybdenum use in the second quarter of 2013 came to 127.3 million pounds, up 4 percent from the 122.6 million pounds produced in the previous quarter.
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Metal Bulletin reported that attendees of its Molybdenum Forum, held in Shanghai this week, believe that it may take the market some time to accept London Metal Exchange (LME) molybdenum prices.
Metal Bulletin reported that although spot molybdenum prices in the United States have improved this quarter, American moly producers are still "cautious in their assessment of long-term contracts and consumer demand."
Metal Bulletin reported that attendees of this week's Metal Bulletin Molybdenum Market Forum believe that even if China decides to revisit its export policy, the international market is still unlikely to be overwhelmed by molybdenum exports from the country.
Platts reported that its daily molybdenum oxide price is $9.80 to $9.90 per pound, though most deals are being conducted at the bottom of that range. Traders do not seem to be overly optimistic about prices.
Metal Bulletin reported that Jiang Zhongqiang, general manager of the sales arm of China Molybdenum Co. Ltd. (HKEX:3993), said this week that the Chinese molybdenum market may "remain in a fragile balance" in 2014.
Platts assessed its daily molybdenum oxide price at $9.65 to 9.80 per pound, up from $9.65 to $9.75 per pound previously. European sources have said it is getting harder to find competitive prices for the material.
MetalBulletin reported that Chinese market participants believe that although molybdenum concentrate prices have fallen for most of 2013, they are likely to rise in the fourth quarter.
The International Molybdenum Association (IMOA) has published an updated version of its Applications of Molybdenum Metal and its Alloys brochure. It is available on the company's website.
Platts reported that although spot buying interest for molybdenum oxide was "subdued" on Monday, prices are fairly well supported at current levels. One European buyer remarked that the market has stabilized.