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.
As quoted in the market news:
‘Nothing today for oxide powder — I had offers at $13.20/lb in the morning and then at $13.10/lb,’ one European trader said.
A second European trader said: ‘The market is holding, nothing special or exciting…I do not expect the market to drop but maybe drift.’
With a lack of inquiries in the market, sources said sentiment was growing negative, which put pressure on sellers to price aggressively