Moly uptick tied to consumer interest

Dec 22, 2009 | 11:00 AM | Tom Jennemann

Molybdenum prices have been driven up recently by a small rush of consumers entering the market for January delivery.

"There's consumer interest that has peaked. Also, Asia has picked up a bit," one U.S.-based ferroalloys trader said. "It's nothing extreme, but (molybdic oxide) was at $11 (per pound) before and now we're at $11.25 to $11.35. Traders are talking $12-plus, but the market is not really there."....

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