Both European Molybdenum Oxide and Ferro Molybdenum Slip in Soft Market
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- Category: Molybdenum's News
- Published on 03 September 2014
- Written by jwy
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Platts reported that molybdenum oxide prices fell yesterday on the back of soft demand. The news outlet notes that the Platts daily dealer oxide assessment dropped to $13.05 to $13.18 per pound from a range of $13.05 to $13.20.
A 20 mt sale of oxide powder was reported at $13.05/lb CIF Busan. The buyer said offers were at $13.10/lb.
A Chinese trader said although inquiries had increased from Japan and South Korea, his offers at $13.15-13.20/lb CIF Asia were rejected with counter bids at $13.10/lb. The trader said he was not accepting low bids.
A South Korean trader said deals were difficult to conclude as the buy and sell price ideas were far apart. He said offers were at $13.25-13.30/lb while buyers sought $13.15/lb.
The Platts daily dealer oxide assessment slipped to $13.05-13.18/lb from $13.05-13.20/lb, while European daily MW ferromolybdenum edged down to $31.80-32/kg from $31.80-32.10/kg.
More inquiries were reported for European ferromolybdenum, sources said, however deals were limited.
One sale was reported to a mill at $31.70/kg DDP for 24 mt prompt delivery, the seller said, adding that "today, we wanted to be aggressive to make the business."
Other European traders said they had offered $32-32.20/kg and were surprised at the concluded price noted above. Small lots were being traded for $32.30-32.50/kg.
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