"Spot molybdenum oxide trade in Japan has been quiet with offer prices
mostly quoting at $26.50-27.00/lb CIF Japan despite no spot activity reported,
according to Japanese trade sources this week.

     One Tokyo-based trader said: "The market is very quiet. There has been no
[spot] deals at all. Demand in Japan is getting better but buyers in Japan are
only purchasing the material based on their consumption needs." Another trader
added: "Japanese customers are in no hurry to purchase the material. There is
no spot demand in Japan. Consumption from steel mills is strong but consumers
are not buying the material on a spot basis." He added that consumers wanted
to "wait and see" when current prices are on the downward trend. "It's easy to
find sellers but difficult to find buyers. Consumers have no interest in
getting spot material at the moment," he said. Moly oxide prices were quoted
at a high of slightly above $27/lb in late September."

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