Moly slips in China on end-user demand concern

摘要

London—The Europe-Asia molybdenum arbitrage narrowed on July 13 as market sentiment turned cautious in Asia and buyers looked for prices closer to $7/lb. The Platts Daily Dealer Molybdenum Oxide assessment was at $6.85-$7.25/lb on July 13, down from $6.80-$7.35/lb July 10. “There is no bullish news that is going to support prices,” a Chinese buyer said, while others said there were bids at $7/lb in Tianjin, although buyers did not accept. A second Chinese buyer said: “Smelters are not making good margin and not chasing up prices.”