The molybdenum market was slow on Monday amid the start of the Chinese New Year holidays, as well as Carnival in Germany.
Prices fell as those in the market tried lower numbers in order to conclude sales, but found no willing buyers. "Not much moly talked today; more sellers than buyers and market more at the low end of the range," one European trader said.
One seller source said he had received a couple of inquiries, but "the price wasn't suitable." Others said they were trying to close business at $12.30/lb.
European ferromolybdenum was also quiet, with a trade reported at $30/kg, while there was also talk of offers at $29.90/kg.
The Platts daily dealer molybdenum oxide assessment fell to $12.20-$12.35/lb from $12.30-$12.45/lb. The daily European ferromolybdenum assessment was at $29.90-$30.10/kg from $30-$30.40/kg.
