Molybdenum Prices On Their Way Down and Out?

MetalMiner reported on the price and demand outlook for molybdenum.

As quoted in the market news:

Although June and July saw imports exceed exports as domestic mines in China are brought on-stream, it is expected China will increasingly seek to rely on domestic molybdenum concentrate supply rather than imports, resulting in ongoing pressure on prices. Molybdenum has fallen to below $14/lb, and unless Chinese merchants decide to step back into the market to opportunistically import, global demand is likely to remain bereft of Chinese buying.

Click here to read the full MetalMiner report.