Moly Producers Ring In Good Times
A draft proposal by the Chinese government that lays down the thresholds for access to the molybdenum industry is set to cheer moly producers.
A draft proposal by the Chinese government that lays down the thresholds for access to the molybdenum industry is set to cheer moly producers.
Thompson Creek Metals has had an upgrade and a downgrade. With eight analysts having cut their target, is it time to bail out of the stock?
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.
Molybdenum exploration has been on a fast track this year, as a shortage in supply and an increase in demand have pushed prices of the alloying metal up and up. Until recently, moly has held stable despite all the challenges on Wall Street.
The molybdenum market is bracing for price increases in September on increased buying activity from stainless steel mills and mounting concerns over a consistent supply. The availability of ferromolybdenum remains tight as output falls at a number of major producers.
Get our independent commentary on moly trends and companies delivered to your inbox.