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."
E.
MOL Price at posting:
49.5¢ Sentiment: ST Buy Disclosure: Held