Big Time Rebound Set For Moly

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 end of the year, the price of molybdenum oxide had only risen to $11 per pound.

Reports indicate that as of August 14, 2009, the price peaked to $18 per pound, and then started its downward slide. Earlier, it had hit a low of $7.70 in April.

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