NEW YORK Molybdenum
prices have continued to fall on tepid spot interest, forcing
sellers to cut prices in order to move material.
Molybdic oxide is now trading
between $10.75 and $11 per pound, down from between $11 to
$11.30 per pound March 15. Meanwhile, ferromolybdenum has
narrowed to between $12.40 and $12.50 from $12.40 to $12.65 per
pound in the same comparison, with a truckload of consumer
business reported at the top end of the range this past
At this time last year, molybdic
oxide was between $14 and $14.30 per pound and ferromolybdenum
between $15.85 and $16.25 per pound (
amm.com, March 16, 2012).
"Theres just a lack of
spot. The concern is that inventories have grown and spot
activity is next to nothing," one trader said of the falling
"People are chasing after
business," a second trader agreed.