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
Peru’s minign sector, one of the major producers of Molybdenum, is suffering from weak mineral prices and showing signs of slowing as financing for projects are drying up. Peru’s Sociedad Minera Cerro Verde SAA recently reported that it would suspend its molybdenum circuit due to weak market conditions. For full story, click here
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