Moly Prices Set To Be Firm

Prices are set to follow an upward trend in 2010. Prices for oxide are forecast to average US$ 17/lbMo, rising to above US$ 20/lbMo in 2011, as strong demand willl ensure producers follow suit and hike prices.

Many Canadian CEOs attest that non-ferrous metals are enjoying even better results: Nickel is up 86 per cent; copper is up 136 per cent; aluminum is up 52 per cent; zinc is up 112 per cent; molybdenum oxide is up 57 per cent and lead has risen 130 per cent. There have been some price declines among minor metals and uranium, but the general trend is toward stronger prices.

At the end of the month though, Chinese molybdenum concentrate prices fell slightly due to a trading slowdown, reports said. Prices took a further tumble in the last week on lower consumer demand and lower raw material costs.

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