Acceptance of LME Moly Prices Will Take Time

Metal Bulletin reported that attendees of its Molybdenum Forum, held in Shanghai this week, believe that it may take the market some time to accept London Metal Exchange (LME) molybdenum prices.

As quoted in the market news:

While people welcomed more transparent prices for the minor metal, there is no rush among most market participants to use the LME prices for trading yet. ‘LME (prices) tend to have more transparency […] a lot of us would be interested in more transparency in prices. Even though some other prices have worked very well, there are still mysteries sometimes on how they are calculated,’ Kevin Pritchett, head of molybdenum sales & marketing at KGHM, said.

Click here to read the full Metal Bulletin report.