Moly drifts down on auto demand concerns

Jun 15, 2012 | 01:35 PM | Thorsten Schier

Tags  molybdenum, molybdic oxide, ferromolybdenum, Thorsten Schier

NEW YORK — Worries about a slowdown in domestic steel production have led to further declines in U.S. molybdenum prices.

"There’s some concern in the market right now," said one molybdenum supplier, who had recently visited a number of domestic steel mills. Despite a "reasonably strong first half from the automakers," many of his mill customers said they are now expecting lower steel demand....

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