Moly Oxide Price Falls During Quiet Day of Trading

Industrial Metals

Platts reported that the moly oxide price slumped Tuesday as sellers outnumbered buyers in the market. One European trader commented, “[i]t’s a really quiet day; even Koreans are on holiday now.”

Platts reported that the moly oxide price slumped Tuesday as sellers outnumbered buyers in the market. One European trader commented, “[i]t’s a really quiet day; even Koreans are on holiday now.”
As quoted in the market news:

Sales in warehouse Busan were heard at $6.10/lb, although there were also buyers bidding for material at $5.95-$6/lb. In Europe, there were very few inquiries, although market participants said offers were still at $6.15/lb and above.
Sources said offers from producers in Busan were being made at $6.10/lb with indications they were biddable, but with little interest from buyers.
A second European trader said when producers were asked to make offers they were taking time to respond, and many inquiries were more for price checking. He added there was also a growing gap between offers to trade and consumers.
Meanwhile, a South Korean trader said he received offers from Europe at $6.10-$6.20/lb, but he had no interest at that price level.
“I can’t buy even at $5.90/lb in comparison with ferromolybdenum prices nowadays,” he said. “It’s difficult covering all the costs.”

Click here to read the full Platts report.

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