Molybdic oxide prices sink to 31-month low

Aug 03, 2012 | 01:30 PM | Thorsten Schier

Tags  molybdic oxide prices, ferromolybdenum, Chinese molybdenum concentrate, Thorsten Schier

NEW YORK — Molybdic oxide prices have fallen to levels last seen in early 2010 as a decline in demand and excess supply are sparking aggressive selling.

"I was talking to a (large producer) recently, and they’re very worried about the market at the moment," one trader said.

AMM’s free-market canned molybdic oxide price is now trading between $12 and $12.20 per pound, down an average of 4 percent from $12.50 to $12.70 per pound previously, with unconfirmed sales also reported as low as $11.75 per pound.....

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