China Molybdenum Says Steel Sector Will Support 2013 Prices

Platts reported that China’s producer of moly concentrate, China Molybdenum, said that they expect the Chinese steel sector to give a boost to prices through 2013.

In its annual earnings report filed with the Shanghai Stock Exchange, the Henan-based producer said that while it did not see any sign of the global economy improving this year, “moly as a vital material in specialty steel and new alloy materials should enjoy faster growth in China’s domestic moly consumption, thus moly prices are expected to be stable in 2013, with rising trends.

To view the whole Platts report, click here.