Platts reported that steelmakers in South Korea and Taiwan are looking at term contracts for ferromoly and moly due to spot market tightness.
Platts reported that South Korea's SeAH is expanding its ferromolybdenum capacity by 167%.
NMC Resources Corp. (TSXV:NRC) announced that exploration drilling has returned high-grade molybdenite mineralization at the NMC Moland mine in South Korea.
NMC Resource Corporation (TSXV:NRC) announced an updated mineral estimate from the Moland Mine indicating higher resources.
NMC Resource Corp. (TSXV:NRC) announced that drilling results have confirmed high-grade moly and allows the company to extend its mineral deposit.
NMC Resource Corporation (CVE:NRC) announced assay results from additional drilling at the Moland Mine in South Korea.
Platts reported that South Korean plants are refilling their stocks of molybdenum oxide.
Woulfe Mining Corp. (CVE:WOF,OTC:WFEMF) announced it has received permit approval for development of production at its Sangdong tungsten/molybdenum mine.
Woulfe Mining Corp. (CVE:WOF) announced assay results of sampling from its recent drilling program at the Sangdong project.
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.
Monday, January 30, 2012