Molybdenum prices fall to 1-month lows due to waning Asia buying appetite

摘要

The molybdenum market continued to trade under pressure with oxide and alloy prices falling to nearly one-month lows after buying appetite from Asia waned, market participants told Fastmarkets during the midweek pricing session. Fastmarkets’ price assessment for drummed molybdic oxide, in-whs Busan fell by 3.6% to an almost one-month low on Wednesday May 20 to $8.50-8.65 per lb from $8.80-9 per lb on Friday. The assessment for drummed molybdic oxide, in-whs Rotterdam followed Asia’s move lower, falling by 1.7% to $8.60-8.75 per lb midweek from $8.75-8.90 per lb on Friday – a level also last seen almost a month ago.