Moly Market Update (March 8, 2012)
A brief overview of molybdenum price developments, supply and demand, and significant market movers.
Articles Tagged "moly price"
Molybdenum Tax Increase Could Spark Higher Imports In China
China’s increase in the resource tax on molybdenum, equivalent to a 4-fold gain per ton is in full effect. The increase, aimed at conserving the country’s resources and curbing pollution could create a need for more imports of moly.
Platts Weekly Dealer Moly Oxide Assessed at $13.30-13.50/lb
Platts reported that its weekly dealer price for molybdenum oxide was down slightly over the previous week.
Molybdenum Price Weak Despite Strong Steel Production
While steel production has remained strong in China and North America, the price of molybdenum has remained weak. China became a net importer of molybdenum in 2010, however, on the year the country is a net exporter of the metal. This trend however may be reversing.
Woulfe Mining to Fast-Track the Evaluation of its Muguk Gold Mine
Woulfe Mining Corp. (CVE:WOF) reports that it is fast-tracking the evaluation of its Muguk gold project in South Korea.
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.
Virgin Metals Inc.: Mr. Federico Alvarez Appointed VP
Virgin Metals Inc. (CVE:VGM) reports the appointment of Mr. Federico Alvarez Ing. M Eng. as Vice President, Project Development operating in Hermosillo, Mexico.
Spot moly prices rise in northeast Asia on European buying spree
Platts.com reports that spot prices for Moly have risen in Asia.
What Lies Ahead For Moly?
Molybdenum is set to trade on the London Metal Exchange from February 22, but the world's No 2 producer Chile's Codelco has decided to stay away. Why does the miner want to go it alone? Are shaky copper prices to blame?
Moly Prices Pause On China Conundrum
China is set to cut export duties for unwrought molybdenum and molybdenum powder to 5% next year, from 15% and 10% respectively, this year. How will this affect moly prices?
