Analysts reduce molybdenum price forecast

Moly Investing News reports molybdenum price has not recovered as much asthe other metals in the beginning of the new year.

Despite a positive turn to most metal’s prices in 2009, molybdenum has continued its downward descent, falling in 11 of 13 weeks in Q1. The monthly Platts Metals Week published molybdenum oxide price averaged US $8.94 per pound during the quarter. For the month of April 2009, this published price declined further to an average US $7.90 per pound. Molybdenum oxide prices averaged just under US $29 per pound in 2008.

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