Moly Oxide Prices Down on Soft Demand

Platts reported that molybdenum oxide prices fell yesterday on the back of soft demand. The news outlet notes that the Platts daily dealer oxide assessment dropped to $13.05 to $13.18 per pound from a range of $13.05 to $13.20.

As quoted in the market news:

‘Nothing today for oxide powder — I had offers at $13.20/lb in the morning and then at $13.10/lb,’ one European trader said.

A second European trader said: ‘The market is holding, nothing special or exciting…I do not expect the market to drop but maybe drift.’

With a lack of inquiries in the market, sources said sentiment was growing negative, which put pressure on sellers to price aggressively

Click here to read the full Platts report.