There is a `little storm brewing' in moly. In the third week of January, traders came in and bought up a lot of material, which caused some supply tightness. Now traders are in a position to push prices higher, state analysts.
Moly has been priced too low as compared to other minerals already traded in the futures market. The added sauce to the coming moly price surge will be a sure-fire winner for speculators. You in?
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.
Government spending will spark a recovery in steel demand towards the end of the year; but its mark on the molybdenum market will be limited. Demand for molybdenum in China likely will rise 6 percent in 2009, then slip to 52,800 tonnes in 2010 before growing again in 2011.
The steel sector has been deeply impacted by the global economic climate; with an approximate 50% decline in production. Moly, as an important alloy, is following suit.
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 London Metal Exchange will add molybdenum to its arsenal in the second half of 2009. The move was announced on Sept 4th, when the LME board voted in favour of adding both molybdenum and cobalt to its futures trading. The move was met with mixed reviews.
TTM Resources Inc. is a Vancouver, British Columbia; Canada based publicly trading resource Exploration and Development Company, focused on four assets in British Columbia, Canada.
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.
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