Due to further demand weakness, moly prices still under pressure
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- Category: Molybdenum's News
- Published on 14 March 2013
- Hits: 469
Current prices of moly concentrate and oxide have declined 15%/10% from the 1H average. Ferro moly prices also dropped 19.7% from the February high and have corrected another 6.8% qtd .
Due to further demand weakness, we remain cautious on moly pricing outlook and expect further downside in 2H as we see more production cuts by Chinese steel producers. Highly correlated with the steel industry performances, the current industry-wide loss of the steel sector and more production cuts should continue to weigh on moly and moly products prices in the rest of 2012.
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