Spot Moly, Moly Oxide Prices Down Since July 1

Platts reported that spot molybdenum prices have weakened; its spot moly oxide daily dealer price currently sits at $9.18 to $9.28 per pound, down from $10.10 to $10.25 per pound on the first of this month.

As quoted in the market news:

Two traders said their bids for several tons of SUS316 stainless scrap containing 16-18% chrome, 10-14% nickel and 2-3% moly were Yen 150/kg ($1.50/kg) ex-warehouse. Spot deals had closed in the first week of the month at Yen 180-200/kg ex-warehouse for 1-50 mt for delivery within the month, said trade and mill sources.

The traders said they planned to bid lower following the fall in spot moly oxide powder prices.

Click here to read the full Platts report.