Molybdenum prices were higher Wednesday on business to India although lower offers and a lack of buying enthusiasm were heard in Rotterdam and Asia excluding India.
Sales were reported in Busan at $8.50/lb and $8.60/lb.
"It was easy to do business this morning but nothing above $8.60/lb," a seller source said on a sale in Asia.
In Europe, market participants said they had received a few inquiries but these had not converted to sales.
"I don't know if there was demand or fishing for prices," a European trader said.
Others said they were not seeing or hearing much business in Asia or Europe.
"Nothing is happening nobody wants material," a second European trader said.
In Asia, a South Korean buyer said offers were at $8.70-$8.75 but had not heard of any sales at this level.
"Japanese buyers are more interested in term contract discussions for 2018 and South Korean steel makers' consumption level is low," he said, adding that China's domestic market was also softening.
The Platts daily dealer molybdenum oxide assessment range was at $8.50-$8.60/kg from $8.55-$8.70/lb while daily European ferromolybdenum assessment was unchanged at $21-$21.20/kg.
A steel mill was heard to have concluded a tender at $21/kg DDP. Sources said they had offered up $21.20/kg.
