Molybdic oxide prices in Europe have dropped slightly amid slow trading activity this week, while the ferro-molybdenum price range widened.
Market participants with either long or short positions are jostling to set a price platform in readiness for expected renewed demand in the latter half of the current quarter.The likelihood is that prices are set to hold around the current range until August, sources told Metal Bulletin. Suppliers will be reluctant to cut offer prices after steady price losses through June when the alloy market was at a monthly peak of $28.90 per kg in-warehouse early in the month. Oxide prices were as high as $11.55 per lb in-warehouse around the same time. Metal Bulletin assessed European molybdic oxide prices at $10.55-10.65 per lb in-warehouse Rotterdam on Wednesday July 4, 10 cents lower than Friday's assessment.The ferro-molybdenum price range...