Molybdenum Prices to Double
Molybdenum prices have averaged slightly more than $9/lb so far this year but an analysis by J.P. Morgan Securities warns “expect moly prices to close in on $15/lb over the next several months and to average $18/lb in 2010.” The forecast from New York-based analyst Michael Gambardella suggests that “most Western molybdenum producers have little to no inventory, leaving traders scrambling—given the recent increase in demand outside China.”
