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Molybdenum oxide market moves lower on Asia sales

https://www.chemnet.com   Mar 16,2018 Platts
After holding steady for the previous two days, molybdenum oxide prices moved lower Thursday, mainly on sales in Asia.

Spot lots of oxide powder were reported sold in Busan at $12.65/lb, $12.70/lb and $12.75/lb, with one seller saying they rejected bids at $12.60.

"We tried to sell in Asia at $12.75 and $12.80, but nobody wanted it," said a European trader.

A second trader said he had been "hesitant" to accept a bid at $12.75/lb early in the day, but that the price had started to look better as the day progressed.

In a generally quiet European market, however, a third trader said he had still been able to achieve $12.85/lb in-warehouse Rotterdam.

The Platts daily dealer molybdenum oxide assessment fell to $12.65-$12.85/lb from $12.80-$12.90/lb previously, while the daily European ferromolybdenum assessment was down to $30.60-$30.80/kg from $30.80-$30.95/kg.

Sales were reported at either end of the range, with smaller-tonnage lots booked at the higher end.
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