Chinese Molybdenum Oxide Prices Falling
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- Category: Molybdenum's News
- Published on 22 July 2013
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It has not confirmed any deals, firm bids or offers for imports into China Friday. One China-based trader, however, reported hearing talks of deals done at $9.05/lb CIF for August delivery, and latest offers were at $9.00/lb CIF China.
A Chinese producer source commented he was not surprised to see offers at $9/lb CIF. He however, warned: "Now those wanting to import are assuming prices will hold at $9/lb, but if it continues to drop, these potential buyers may shun [the market] again."
Another Chinese producer who planned to buy molybdenum oxide for ferromoly production, decided to postpone its purchase because of falling Chinese domestic prices, said the second Seoul-based trader.
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