Europe: Prices flat as China market pauses

摘要

European minor metal prices were broadly unchanged today, with trading activity muted in many areas as market participants wait for China's holiday period to end, at which point clearer price direction will emerge. Molybdenum oxide bucked the trend, with prices edging up amid new trades. Spot demand for electronic metals has risen from the deep lows of July-August when a combination of spring lock- downs across Europe followed by the summer holiday period drastically reduced the number of deals. But buyers are still not returning in force to replenish inventories and are limit- ing themselves to immediate requirements. Market activity was starting to pick up slightly but uncertainty about new measures to tackle a second wave of the pandemic in Europe appears to have put restocking plans on hold