Molybdenum prices have dropped in Europe in line with demand in the past few days, with traders waiting for consumer buying interest to pick up before committing to any significant inter-merchant business, sources said.
Market participants have not reported to Fastmarkets MB any molybdenum trades in either oxide or ferro-molybdenum in the first half of the week. Alloy deals of around 60 tonnes were reported but not confirmed at about $28.80 per kg, while a couple of truckloads of oxide were reported traded at $12.00 per lb; these were similarly unconfirmed. Fastmarkets MB assessed the price of European drummed molybdic oxide, in-warehouse Rotterdam, at $11.90-12.00 per lb on Wednesday October...