Molybdenum, which is used to strengthen steel, sold on the spot market at a monthly average of almost $33/lb during the first half of last year, and actually was as high as $33.50/lb in daily trading. But, the spot price slipped to $25 in the second half and continued falling earlier this year - bottoming around $8/lb in April. Analysts predict the price at $12/lb in a couple of months.
Continue reading "China Chasing Chile For Moly"
Thursday, May 28, 2009
Chilean copper producer Antofagasta posted a 68% dip in revenue year on year for the first quarter on poor realised copper prices and lower margins on by-product molybdenum. For full story, click here
Continue reading "Antofagasta’s Q1 revenue dipped 68% on lower moly prices"
Monday, March 9, 2009
Molybdenum prices are currently hovering around the $9 per lb mark, a drastic decline from last Augusts’ high of $34. Molybdenum managed to hold its price point longer than other metals; but in the fourth quarter of 2008 the steel industry’s defeat sent molybdenum on a free fall.
Continue reading "Weak steel demand takes a bite out of molybdenum"
Friday, February 27, 2009
Chilean Molybdenum output dropped 19 percent to 2,870 tons. For full story, click here
Continue reading "Chilean Moly output dropped"
Monday, February 23, 2009
The Chilean government copper commission Cochilco says that prices for molybdenum will be at $11 per pound in 2009, down from $30/lb for most of last year. For more information, click here
Continue reading "Molybdenum prices seen at $11/lb in 2009"
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Monday, October 5, 2009