Reuters reported that China Molybdenum Company Ltd. (HKEX:3993) believes that strong demand from steel mills will provide support for molybdenum prices this year.
Moly Market News Directory
Platts reported yesterday that according to the International Molybdenum Association, in the third quarter of 2013, global molybdenum consumption came to 134.1 million pounds, up about 1 percent from the previous quarter.
TCE Today reported that chemical engineers from Stanford University, located in the United States, and Denmark's Aarhus University believe that a new catalyst based on "an unusual form of molybdenum sulphide" can separate hydrogen from water almost as efficiently as platinum.
Metal Bulletin reported that ferromolybdenum rose today to trade between $25 and $25.20 per kilogram. Molybdic oxide also increased, trading between $9.85 and $9.90 per pound.
AZoNano reported that scientists at the National University of Singapore have developed a way to "chemically exfoliate molybdenum disulfide crystals ... into high quality monolayer flakes with higher yield and larger flake size than current methods."
Metal Bulletin reported that European molybdenum market participants expect prices for the metal to be stable in 2014, a "significant change" from 2013's market volatility.
BNamericas reported that according to Haywood Securities' Stefan Ioannou, molybdenum prices will likely remain "subdued" in the next few years as a result of an approaching production glut.
Metal Powder Report reported that according to the International Molybdenum Association, global molybdenum use in the second quarter of 2013 came to 127.3 million pounds, up 4 percent from the 122.6 million pounds produced in the previous quarter.
Metal Bulletin reported that attendees of its Molybdenum Forum, held in Shanghai this week, believe that it may take the market some time to accept London Metal Exchange (LME) molybdenum prices.
Metal Bulletin reported that although spot molybdenum prices in the United States have improved this quarter, American moly producers are still "cautious in their assessment of long-term contracts and consumer demand."