About year ago, on August 21, 2014, Platts daily dealer molybdenum oxide assessment was at $13.15/lb. In fact, throughout August 2014 the price stayed above $12.95/lb, which seems unimaginable now when oxide struggles to hold above $6/lb. Today, interest for purchasing oxide powder is increasingly slow and prices are being held back by the lack of spot purchasing. But when we look back at the same time a year ago, was it that different? Traders and producers were telling us that summer trade was thin, similar opinions we hear today. In the summer of 2014 there was optimism that the return of consumers in September would see prices edge up back to $15/lb mark seen in June 2014. This anticipation is cyclical; after the summer holidays consumers always come back to the market and we see prices, which have been static all summer, move up — over August 2014, $13/lb was the support level. Of course, looking back this didn’t turn out quite as expected. A lack of inquiries for September had sellers panicked and offering aggressively into the market. Looking over September, prices fell from $13.05/lb to $10.25/lb in one month. Blog post continues below… Request a free trial … continue reading
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Source: CTRM Center