Moly companies to face a second quarter pinch

Moly Investing News reports molybdenum prices fell from a 4 year high.

At current prices, moly miners are at best breaking even. Industry participants are not certain when to pin point a recovery; however, indications suggest a pick up in late 2009 or early 2010. For now, business is slow leaving some dealers bracing themselves for an even tougher time in the second quarter. Traders said prices for molybdic oxide are currently going for between $8.30 and $8.80 a pound, while ferromolybdenum is a touch higher at $9.50 to $10 a pound.

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