Molybdenum miner Roca Mines has mothballed all exploration projects, slashed its workforce by 20 percent and halted plans to double output, in an effort to combat the effects of the global slump. For full story, click here
Imports of molybdenum into China surged in February as overseas sellers stepped up competition with Chinese producers. Imports of moly have surged because Chinese producers have found themselves largely unable to compete with cheaper import offers.
Molybdenum prices will remain weak at between $10.50-$11 a lb this year because of weak demand from steel makers, but in 2011 it will rise to above $20 as demand rebounds, U.S.-based CPM Group said on Wednesday. For full story, click here
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