Global Spot Moly Price Unlikely to Exceed $20/lb Until 2020

Platts reported that Ionut Lazar, a senior consultant at CRU Strategies, said that the global spot price of molybdenum oxide is not likely to be more than $20/lb until 2020. Instead, it will hover around $15/lb as capacity exceeds anticipated yearly demand growth of 3 to 4 percent.

As quoted in the market news:

“The days of $30/lb are gone. If the market tightens, if stainless steel recovers at the end of the year and traders are not responsive to this demand, price may jump. But it will not sustain over $20/lb. The price will stay at $12-17/lb in foreseeable future.” Lazar said.

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