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, June 11, 2009
Molybdenum prices have been moving higher over the last month and last week passed $10/lb in the U.S. spot market, but they still are 27% below the peak of mid-2008 as demand from steelmakers remains soft. Looking ahead, forecasts are mixed: Investment bank Dahlman Rose & Co. sees a loss of supplier discipline and a [...]
Continue reading "J.P Morgan has boosted molybdenum price forecast"
Tuesday, January 27, 2009
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 [...]
Continue reading "Moly prices to remain low in 2009"
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Monday, October 5, 2009