CIBC has revised its molybdenum forecast to reflect higher prices going forward. The 2009 forecast was raised 10% to $11 per pound, the 2010 forecast was raised 33% to $16 per pound, and the long-term forecast was raised about 17% to $14 per pound. For full story, click here
Analysts are slashing long-term price forecasts for molybdenum because of expected weak demand this year and next from producers of carbon, alloy and stainless steel. For full story, click here
The steel sector has been deeply impacted by the global economic climate; with an approximate 50% decline in production. Moly, as an important alloy, is following suit.
Southern Copper Corp put its molybdenum forecast at 17,000 tonnes, slightly higher than last year. For full story, click here
As per Morgan Stanley, molybdenum prices will remain low in 2009 and the market’s supply surplus will shrink from 2008 levels. The report from Morgan Stanley said: We forecast prices to remain at a low of USD 12 per pound in 2009 as the industry remains in surplus for most of the year. Given that [...]
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