Noble alloys prices in Europe fell on Wednesday June 29, as sellers looked to get rid of material ahead of the traditional summer shutdown period for steelmakers.
Metal Bulletin's Molybdic oxide prices dropped to $7.30-7.50 per lb, from $7.70-7.80 previously, while ferro-molybdenum prices fell to $17.30-17.90 per kg, from $17.70-18.10. Market participants said the main reason for the declines in recent days was the expectation of an influx of material from China.
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