Molybdic oxide and ferromolybdenum prices have eased in recent
weeks, with excess supply dragging down the market.
The molybdic oxide
price range tightened to $9.10 to $9.30 per pound from $9.10 to
$9.55 previously, the lowest level since May 2009, and
ferromolybdenum tightened to a range of $11 to $11.30 per pound
from $11 to $11.40.
"Some guys are saying
(molybdic oxide) will move down to $9 per pound again," one
trader said. "Theres a lot of ferromolybdenum around. I
dont think its crashing, but it is lower."
One producer source
said that a recent stabilization in pricing after a period of
amm.com, Aug. 2) was mostly due to improved
sentiment rather than any shift in market fundamentals.
"Theres still more supply than demand. The market
reversed a couple of weeks ago due to more positive indications
from China, but demand didnt actually change," he said.
"There could be further weakness in pricing (as) the market