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Gold/Mining/Energy : Mining News of Note

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From: LoneClone	12/17/2012 8:52:51 PM
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Molybdenum oxide prices rise as offers remain firm London (Platts)--14Dec2012/307 pm EST/2007 GMT platts.com Molybdenum oxide prices rose Friday, with sources reporting higher bids and offers. The Platts daily dealer oxide price assessment moved up to $11.45-11.60/lb from $11.25-11.40/lb on Thursday. "I paid $11.50 myself today but heard somebody else paid $11.60. Bids are higher than $11.40 now," one source said. A second trader said that although the day had been quiet he had heard business at $11.60 in the morning. "People were talking $11.75 but it's dreamland. $11.60 is the highest," he said. A producer said he was offering close to $12, but had not concluded any business and rejected a bid at $11.70/lb. "We don't have to sell because of the flow in inventory, the tight supply," he said. "I don't think there are huge stocks around and don't see any reason to be aggressive at this point in time," the producer said.

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