Moly oxide, ferromoly drift lower as buying slows

摘要

Activity slowed in the molybdenum oxide market Thursday as prices continued to edge lower. “Today we heard offers in Asia at $12.30. Europe was quiet,” said a European trader, adding: “A bearish sense is in the market, but nothing fresh to report business-wise today.” An Asian trader rejected a firm bid at $12.20/lb CIF Busan and pegged the indicative tradable value at $12.25/lb, while a second Asian trader saw offers at $12.35- $12.40/lb, but no deals concluded.