There were no surprises Monday in the molybdenum oxide market, as prices

　　took another step down and market participants said they had stopped

　　speculating on when a floor would be hit.

　　Platts' daily molybdenum oxide assessment moved to $6.60-6.70/lb, from

　　$6.70-$6.80/lb.

　　A producer source said the limited number of buyers looking for material

　　at the end of the European trading day were looking for $6.60/lb and below,

　　and that bids at $6.50/lb were received by sellers.

　　"Everyone is scared to buy," a European trader said. "Even the consumers

　　are scared of buying for July and not getting the lowest price. They are all

　　waiting."

　　A second European trader agreed demand was very poor from steel mills,

　　but also noted demand in Busan was also lower and dragging prices down. "At

　　least at the start of the year, Koreans were coming in at the end of the month

　　and prices went up. Now it's just down, down, down," he said.

　　Deals for 20 mt oxide powder lots were reported in Rotterdam and Busan at

　　$6.60/lb and $6.65/lb.

　　"I wanted to test the market and did not expect to get it," said a third

　　European trader, who had bought material at $6.60/lb.

　　In Asia, buyers in South Korea and Japan said they would rather wait for

　　Chinese market participants to return before making their next moves. "There

　　could be some China companies buying if prices approached $6.50/lb, and this

　　could boost prices, but on the other hand, they may not buy if domestic

　　Chinese prices slid down," one South Korean trader said.

　　European market participants were more pessimistic on the prospect of

　　China entering the market and stopping the price decline. "The domestic

　　price in China keeps going down -- it won't be our white knight," the third

　　European trader said.

　　Others said there would have to be a clear move to suspend production by

　　primary producers, which at current price levels would have to be taken into

　　consideration sooner than later.

　　"It's going to be difficult for primary producers if we get to $6/lb.

　　There has to be a decision to protect yourselves from bleeding cash," a second

　　producer said.

　　--Jitendra Gill, jitendra.gill@platts.com

　　--Mayumi Watanabe, mayumi.watanabe@platts.com

　　--Edited by Lisa Miller, lisa.miller@platts.com

　　--Platts Metals Alert--

　　--Platts Metals Alert--386--Daily/Weekly Ferromolybdenum Prices - 22Jun15

　　New York (Platts)--22Jun15/0230 pm EDT/ 1830 GMT

　　USD/LB Weekly Average

　　MW US FeMo 8.800-9.000

　　USD/KG

　　Daily MW European 65% FeMo -0.300 17.400-17.700 -0.300 NA

　　FeMo 60% Mo, FOB China 20.000-20.500

　　FeMo 60% Mo, CIF Japan -0.600 18.200-18.300 -0.700

　　Stainless Scrap USD/LT

　　NA FREE MKT 18-8 1120.000-1164.800

　　Note: All prices assessed weekly typically on Thursdays except

　　Eur FeMo which is daily.