Asian molybdenum oxide climbed to $33.50-33.75 per lb, the highest level since March 2023, due to constrained mine supply and resilient steel demand. Henan concentrate production reportedly dropped nearly 25% between May and July following safety and environmental inspections. Demand remained strong from energy, petrochemical, shipbuilding and advanced-manufacturing sectors. European ferro-molybdenum also strengthened to $74.20-76.50 per kg, with tight availability expected to support prices.
