A lack of demand for molybdenum oxide pushed prices lower throughout the day, sources said Friday.
Platts assessed its daily molybdenum oxide price at $9.50-9.60/lb, down from $9.55-9.60/lb.
"Everyone is talking about $9.50 but no deals have been done at this level," a producer said, adding that there were no inquiries and very little interest to purchase oxide powder.
"$9.60 just isn't out there now in Europe, but in Asia we're hearing higher," he said.
A second producer said he was offering $9.60/lb for briquettes, but had no bids or inquiries.
He noted that price ideas had softened through the day but also noted that trade interest had declined since Tuesday.
"Until mid next week there will be pressure to sell, we need interest or prices will go back to $9.20," he said.
Sources reported thin trade in Asia as well, with a South Korean trader reporting no inquiries from Asia but more from offers from European traders looking to sell.
He said he received an offer from a European trader for 20 mt of briquettes at $9.70-9.75/lb in-warehouse Rotterdam on Thursday but declined on lack of demand.
A Chinese trader said the market had become quiet and "under such circumstances, we'd prefer fast buying and fast selling."
