China Molybdenum Anticipates Robust 2014 Demand for Moly

Reuters reported that China Molybdenum Company Ltd. (HKEX:3993) believes that strong demand from steel mills will provide support for molybdenum prices this year.

As quoted in the market news:

The company, making its first offshore foray and into the copper sector with the Northparkes deal, sees robust demand for molybdenum from specialised steel producers while output growth for the metal will be limited, it said in a filing to the Shanghai stock exchange on Wednesday.

‘Demand for molybdenum products should remain strong as the output of specialised steel and stainless steel will keep increasing,’ the statement said.

Click here to read the full Reuters report.