Strong demand lifts Freeport’s moly prices

Jul 23, 2014 | 03:01 PM | Daniel Fitzgerald

Tags  Freeport-McMoRan, molybdenum prices, molybdenum production, molybdenum demand, molybdenum sales, Climax Mine, Henderson Mine, Morenci Mine molybdic oxide

NEW YORK — Freeport-McMoRan Inc. has credited improved demand for a rise in molybdenum prices in the second quarter.

The average realized price for molybdenum in the three months ended June 30 was $13.43 per pound, up 8.7 percent from $12.35 a year earlier, Freeport said.

"Molybdenum prices have improved during the first six months of 2014, resulting from improved demand in the metallurgical sector. (Freeport) continues to monitor market conditions and may make adjustments to its primary molybdenum production as market conditions warrant," the Phoenix-based company said.....

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