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Molybdenum oxide market moves lower as buying remains slow

London — Buying activity in the molybdenum oxide market was thin again Wednesday,with prices moving lower as would-be sellers appeared willing to drop offerlevels in order to move material.

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"It makes sense that," said a European trader. "Those who have an intakeon a formula basis have got material on their books."

An Asian trader offered oxide powder at $11.35-$11.40/lb in Busan withoutconcluding any deals, while a second Western trader agreed it was "very quietour end as well."

He added that "$11.40 is what we have been seeing on oxide and eitherside of $28 for FeMo."

One truckload of oxide powder was reported sold at $11.25/lb deliveredEuropean buyer, in big bags, while ferromolybdenum sales were reported inEurope at $27.75/kg in Rotterdam and $27.85/kg on a delivered basis.

The Platts daily dealer molybdenum oxide assessment fell to$11.25-$11.40/lb from $11.30-$11.45/lb the previous day, while the dailyEuropean ferromolybdenum assessment was down at $27.75-$28.10/kg from$27.90-28.20/kg previously.

--Andy Blamey, andy.blamey@spglobal.com

--Joanna Lim, joanna.lim@spglobal.com

--Edited by Richard Rubin, richard.rubin@spglobal.com