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Moly Oxide Trading Stalls as Price Hits Lowest Point in 2014
Dec. 02, 2014 09:49AM PST
Industrial Metals InvestingPlatts reported that there was a stall in moly oxide trading on Tuesday. The issue was “a deal at $8.95/lb in-warehouse Rotterdam,” which on Monday pushed the Platts daily dealer price to $8.95 to $9.05 per pound, its lowest level so far in 2014.
Platts reported that there was a stall in moly oxide trading on Tuesday. The issue was “a deal at $8.95/lb in-warehouse Rotterdam,” which on Monday pushed the Platts daily dealer price to $8.95 to $9.05 per pound, its lowest level so far in 2014.
As quoted in the market news:
Some buyers in South Korea and China, initially eyeing purchases at $9/lb CIF, retreated Tuesday, seeking to buy at around $8.50/lb, sources said.
A South Korean trader, offering at $9/lb CIF Tuesday, said he did not receive any counter-bids.
Some sellers have also retreated from the market.
‘If the price is sliding lower, I would not buy, if price is at the bottom, I would not sell,’ another South Korean trader said.
A Japanese buyer said spot sellers were difficult to find in Asia.