“Sell in May, and Go Away,” may hold true for minor metals such as molybdenum this year. However, recent moves by the Chinese and speculation on China’s growth numbers may be the true factors driving the molybdenum market.
After the Chinese agreed to fund two Molybdenum companies last week, Thompson Creek Minerals and Antofagasta PLC are looking for financing for new projects to capitalize on surging molybdenum prices.
One of the world's largest publicly traded, pure molybdenum producers, Thompson Creek TSE: TCM, today announced changes to its 2009 estimates for molybdenum sales, molybdenum production and cash production costs.
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