Moly market becomes increasingly dependent on China

摘要

London—Molybdenum prices were softer on Tuesday as China’s buyers stepped away from the market. The Platts Daily Dealer Molybdenum Oxide assessment fell to $9.00-$9.05/lb on Tuesday from $9.00-$9.10/lb on Monday. “The Chinese are not active today and prices came off,” one European seller source said, noting that molybdenum had been well supported from the impact of the coronavirus. Others agreed. European trader said the support was “extraordinary."