Moly miners take control of fundamentals

Moly Investing News reports molybdenum miners are taking control of output in efforts to get price of the metal to rebound.

After maintaining its price point through the beginning months of the recession, the metal took a dive late in the third quarter of ‘08.  Despite renewed economic conditions in the first quarter translating to a rebound for most of the metals, moly has yet to show any signs of an advance. This has prompted miners to curb the metals output.  Last week, Erdene Resource Development Corp announced it would also aggressively curtail production.

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