China's SRB Buys 2,000 Tonnes of Molybdenum Oxide
China’s State Reserve Bureau (SRB) bought 2,000 tonnes of molybdenum oxide from major market participants on Wednesday November 18, according to market sources.
The SRB conducted the purchase to fully carry out its plan to stockpile 7,300 tonnes of molybdenum oxide. It only managed to obtain 5,300 tonnes through its purchase on Wednesday October 28. The price this time was settled at 791 yuan ($123.88) per mtu, lower than the 805 yuan per mtu.
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