Platts reported that the price of asian molybdenum oxide fell to $11.50-12/lb due to low trade volumes from South Korea and China.

As quoted in the report:

South Korea’s Doosan Heavy Industries & Construction bought 20-40 mt of moly oxide at $11.20/lb late Wednesday, the sources said. But they considered the price low compared with the Platts daily dealer oxide price assessment at $11.50-11.80/lb Wednesday.

An official from a South Korean ferromolybdenum smelter commented:

I suspect it was a trader that locked the deal. Large smelters like us will not be able to sell so low.

Click here to read the full Platts report.