Price of molybdenum oxide has rallied to level of USD 16 per lb

Steelguru.com reports that the international price of molybdenum oxide has rallied to a level of USD 16 per lb.

The market news is quoted as saying:

China is the country, having shared 37% of molybdenum production in the world, but the Central Government of China has decided to enforce from 2001 the regulations for whole quantity of molybdenum ore to be mined in China (the contents are not announced yet) and therefore, the circumstances surrounding molybdenum are moving to change largely from the beginning of November. Molybdenum prices in 2011 are anticipated to fluctuate on a firm tone and, from this point of view, molybdenum prices in domestic market of China have risen to a considerable extent.

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