Molybdenum lower; Asia buyers come in

摘要

London—There was more demand seen for molybdenum on Friday as low prices encouraged buyers in Asia. The S&P Global Platts Daily Dealer Molybdenum Oxide assessment was at $7.60-$8/lb on Friday from $7.80-$8/lb on Thursday. “Every seller is trying to reduce inventory on hand,” one Asian trader said, adding that he expected to see prices fall toward $7.60/ lb. Others agreed prices were coming off, and a second Asian trader said he rejected a bid at $7.50/lb.