【China Molybdenum Industry News Network】

Molybdenum oxide prices were stable Thursday as sources reported very few inquiries or concluded deals for oxide.

One Europe based trader said that the market was very quiet and he had concluded a deal for around $10.70/lb prompt Busan.

On ferromolybdenum he said: "We started the week at $27[/kg], then it was $26.80[/kg] and now it's downwards. I lost business today at $26.50/kg."

A second Europe based trader said: "Oxide seems to be stable now but there are not so many inquires unless it's for small tonnage only."

He agreed that ferromolybdenum was also weaker and said prices had dropped to $26.40/kg.

A third European trader agreed that $26.40/kg was a reasonable number on Thursday and said that he had an offer out at the same level.

Meanwhile, in Asia spot offers for molybdenum oxide powder were also being seen at $10.70-10.80/lb but failed to attract buyers as they expect prices to fall further in the days ahead, sources said.

One Chinese trader offered moly oxide powder to a Japanese trader at $10.70/lb CIF Japan, for shipping within 30 days.

"What is the point of buying today, if prices are lower tomorrow," a South Korean buyer said, adding that he expects prices to drop to $10.50/lb CIF Busan.

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