Molybdenum came off Tuesday on slow trade while interest and prices for ferromolybdenum edged up.
Oxide powder was reported concluded at $8.45/lb in Rotterdam while in Asia bids were heard at $8.35/lb. Market participants said there was little interest for oxide powder and inquiries were thin leading those looking to sell to drop offers.
With many at an industry conference in Europe, market participants said there was more focus on long term deals rather than the spot market.
"Nothing has been heard from the demand side," one European trader source said while others agreed there were few traders looking for material over the day.
Ferromolybdenum saw more interest. A North European mill was heard to have bought at around $21.30/kg DDP, while others said trade in Rotterdam was concluded up to $21.10/kg.
The Platts daily dealer molybdenum oxide assessment range edged down to $8.40-$8.45/lb from $8.40-$8.45/lb while the daily European ferromolybdenum assessment moved to $20.90-$21.10/kg from $20.75-$20.90/kg basis Rotterdam.
