Molybdenum--The spending stops...but China saves

摘要

Slowly, surely, almost demurely, moly prices have crept on down, with oxide breaching 8 dollars/lb and ferromoly going through the 20 dollars/kg level for the first time in nearly five years. True, producers have acknowledged the trend only with reluctance, and at one point prices lifted a shade. But most players have bowed to the inevitable and indeed many gloomily concede that without this year's sustained buying by the Chinese the moly price would have hit 5 dollars.