London (Platts)--27Feb2013/501 pm EST/2201 GMT

The Platts daily molybdenum oxide price moved down five cents to $11.15-11.25/lb from $11.20-11.25/lb Wednesday as sources reported lower deals and bids.

One Europe-based buyer said he had been told an Austrian mill bought 10 metric tons of oxide powder at $11.20/lb DDP, and suggested it may have been a trade sale.

He added that he had also heard that prompt sales of ferromolybdenum was slightly higher on the day at $28.30/kg for 12 mt.

"FeMo is a bit stronger and oxide softer but FeMo is not up significantly," he said.

A Europe-based trader said he had offered for the mill sale at $11.30/lb, but that was too high. He said he thought $11.20 was too low and the sale was probably five cents higher, as he was seeing bids below $11.20 rejected elsewhere.

He added he was seeing more inquiries today: "It's March covering so buy today for prompt. It's still hand-to-mouth, not month-to-month."

A second trader said "I haven't seen anything on oxide today, I've only heard $11.20 and below."

On ferromolybdenum he said he was seeing numbers no higher than $27.60-70/kg.

On oxide powder, he added that "if people bid at $11.15/lb, it would be booked. It's end of month and producers have their buying boots on."

A producer agreed that a sale at $11.20/lb DDP was possible as sellers would compete for end consumer business although sales to trade would be higher at $11.20-11.25/lb.

"Bids are below $11.20 now and $11.20 with payment terms and delivery to a consumer is reasonable," he said.

--Jitendra Gill, jitendra_gill@platts.com --Edited by Valarie Jackson, valarie_jackson@platts.com