After the Chinese agreed to fund two Molybdenum companies last week, Thompson Creek Minerals and Antofagasta PLC are looking for financing for new projects to capitalize on surging molybdenum prices.
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.
At the end of October 2009, moly oxide was trading just around $10.5. By the [...]
Moly Investing News reports moly prices have gradually increased surpassing $10.00 per lb.
Miners are hoping the metal continues the trend, claiming a price minimum of $10.00 per lb is essential in order to turn a profit. Moly was trading at $33.50 per lb before the financial crisis sent a shockwave through the global economy.
For complete story, [...]
Moly Investing News reports molybdenum spot trading was halted by China.
The trading hiatus was initiated by China as prices offered were, in their opinion, below acceptable levels. One China based producer said that his company wants to sell their material at above US$30 per kilogram, but there are simply no overseas buyers willing to pay [...]
Moly Investing News reports molybdenum prices have dropped sharply with the global economic pressures.
The downturn in global steel demand hit the metal hard, as molybdenum is used in structural steel and oil pipelines. However, analysts are optimistic about moly’s future. Even as demand wanes, supply remains tight. It is the tight supply picture that ultimately [...]
Tuesday, March 16, 2010
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