Molybdenum oxide business was slow Monday, with the European market broadly rangebound, although one sale was reported booked in Asia at a slightly higher price.
"It's a typical Monday -- the only thing to be reported is the pleasant weather," one European trader said.
In Asia, most sources pegged the market stable at last week's closing levels, with bids around $8.40/lb and offers 10 cents higher, but one seller reported booking 20 mt of oxide powder at $8.55/lb in Tianjin.
That price level was unlikely to be repeatable in Europe, sources said.
"I don't think that at $8.55 I'd be able to close a deal. I'd like to, but I'm not sure if it would work," one supplier said.
Then again, he added, "nobody's asking for oxide, so it's difficult to say. We've had more requests for briqs or for FeMo."
Another supplier said that "prices in Asia are higher than in Europe."
A couple of spot lots of oxide powder were reported booked in Rotterdam at just above $8.40/lb, in big bags, for prompt delivery, while briquettes in drums were booked late last week at $8.60/lb DDP Rotterdam, also for prompt delivery.
The Platts daily dealer molybdenum oxide assessment range widened to $8.40-$8.55/lb from $8.40-$8.50/lb previously, while the daily European ferromolybdenum assessment was unchanged at $20.70-$21.00/kg.
A container of ferromolybdenum was reported sold at $20.80/kg in-warehouse Rotterdam, with small-tonnage lots booked up to $21/kg.
"It's very steady, very stable," one seller said. "Long-term contracts are ticking over anyway, and for the time being spot business is holding up."
