Weak steel demand takes a bite out of molybdenum

- March 10th, 2009

Moly Investing News reports moly prices are at around $9 per lb. Molybdenum managed to hold its price point longer than other metals; but in the fourth quarter of 2008 the steel industry’s defeat sent molybdenum on a free fall. Around 70 per cent of molybdenum demand comes from steel production, and with steel producers … Continued

Moly Investing News reports moly prices are at around $9 per lb.

Molybdenum managed to hold its price point longer than other metals; but in the fourth quarter of 2008 the steel industry’s defeat sent molybdenum on a free fall. Around 70 per cent of molybdenum demand comes from steel production, and with steel producers operating at 50 per cent capacity it is no surprise that the precious metal is trading at $9 per lb. 

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