j.p. morgan boosts molybdenum price forecast

By Tom Stundza -- Purchasing, 10/06/2009 2:06:00 PM
Molybdenum prices have been moving higher over the last month and last week passed $10/lb in the U.S. spot market, but they still are below the peak of mid-2008. Looking ahead, J.P. Morgan Securities just boosted its forecast to $15.

J.P. Morgan analyst Mike Gambardella writes to clients today that he "expects demand outside of Asia to begin to rebound in the fourth quarter and continue to push moly prices higher."

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