molybdenum price , page-10

Moly oxide drops to $10 per lb



London 07 November 2008 13:33


Molybdenum prices dropped as low as $10 per lb on Friday amid talk that prices will fall to single figures within the next week. Drummed molybdic oxide fell to $10-15 per lb from $25-27 per lb previously as deals were reported at both ends of the new MB range. “The sniff on moly is that it’s going into single digits – there’s just so much of the stuff around,” said one trader, who reported receiving offers from China at close to $11.50. Consumer sources at MB’s ferro-alloys conference this week suggested prices could fall as low as $2, while producer sources estimated prices would find a floor at $10. Molybdic oxide has not traded below $2.30 since MB’s pricing archive began in 1997....



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