Moly oxide drifts lower,nears previous support level

摘要

Business in the molybdenumoxide market remained thin on Thursday,but prices drifted lower as some sellersreduced their offer levels in a bid to flushout potential buying interest.“We had sort of interest from aChinese buyer at $5.55-$5.60/lb, but nota firm bid,” one European trader said.One producer sale was reportedbooked at $5.60/lb, prompt in Busan, butactivity in Asia was generally slow againsta background of public holidays this weekin Japan and South Korea, and an impendingholiday in China in the first week ofOctober.