Molybdenum Makes Gains Despite Market Downturn
The volatility of world markets over the last week has some commodites on a downward trend. Molybdenum, however, is bucking the trend with some impressive gains over the last week.
Articles Tagged "LME"
Molybdenum Prices Trending Downward
The price of molybdenum on the LME is down to its lowest level since July of 2010. Weak demand for stainless steel and the summer slowdown in the production of steel are factors. This could represent a bottom for the price as supporting factors come into play in the coming months.
LME Cobalt and Molybdenum Surpass 10,500 Lots Traded
London Metal Exchange reported that over 10,000 lots of moly and cobalt were traded since 2010.
Molybdenum Demand and the Rebuilding of Japan
Japan will need massive amounts of steel to rebuild what the tsunami washed away. Infrastructure and new automobiles will pave the way for steel demand in the country. While the events in Japan are horrific and depressing, and may affect global markets for quite some time, the need for steel will likely use up a large portion of the surplus that is currently holding down the price of moly.
Strong Demand and New Markets Benefit Molybdenum
The use of molybdenum in energy projects from nuclear energy to renewable will add new demand pressures on moly over the course of the year. Prices on the LME have been steadily gaining already this year, increased demand will only add to these dynamics.
Moly Producers Ring In Good Times
A draft proposal by the Chinese government that lays down the thresholds for access to the molybdenum industry is set to cheer moly producers.
Moly Prices Set To Be Firm
Prices are set to follow an upward trend in 2010. Prices for oxide are forecast to average US$ 17/lbMo, rising to above US$ 20/lbMo in 2011, as strong demand willl ensure producers follow suit and hike prices.
Moly Poised For Massive Comeback
Moly has been priced too low as compared to other minerals already traded in the futures market. The added sauce to the coming moly price surge will be a sure-fire winner for speculators. You in?
LME pushes moly launch back to Q4
The soft launch of the London Metal Exchange’s contracts in molybdenum oxide has been pushed back towards the end of this year, later than previously scheduled. For full story, click here
Joint ventures necessary for survival
Molybdenum has crashed from $33 per lb in mid ’08, to its Friday closing value $8.70 per lb. Analysts predicts the metal is in for a slow recovery this year, and is anticipated to average $11.00 per lb.
