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RR1:AU
Rights Issue and Shortfall
China Moly Traders Cut Prices on Poor Demand, Mideast Uncertainty
Feb. 28, 2011 11:19AM PST
Molybdenum InvestingPlatts reported that Chinese molybdenum traders dropped their prices due to lower overseas demand and uncertainty in the Middle East.
Platts reported that Chinese molybdenum traders dropped their prices due to lower overseas demand and uncertainty in the Middle East.
The market news is quoted as saying:
Yet another said his company has 20 mt of moly oxide in Europe, but would rather hold them to sell later when prices rebound. Industry experts said as international moly prices stayed strong over December-January, the market was seeing a downward correction this week.
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