European spot prices for molybdic oxide have decreased so far this week on lower deals done in Europe and in Asia, with ferro-molybdenum tracking the move while there is relatively low buying interest, sources said.
European ferro-molybdenum consumers in the steel sector appear satisfied with their long-term contracted intake of alloys at present, while South Korea was closed for a national holiday on June 13. Industry dealers in South Korea have also taken time off around the holiday, so domestic trading is expected to be quiet overall this week, sources said. Metal Bulletin assessed European molybdic oxide prices at $11.30-11.40 per lb in-warehouse Rotterdam on Wednesday, down from $11.30-11.50 per lb on Friday.Ferro-molybdenum prices in Europe moved down to at $27.75-28.00 per kg in-warehouse Rotterdam on...