Economic malaise causes moly prices to collapse
Wed, Nov 12, 2008
Moly Investing News reports molybdenum prices have dropped sharply with the global economic pressures.
The downturn in global steel demand hit the metal hard, as molybdenum is used in structural steel and oil pipelines. However, analysts are optimistic about moly’s future. Even as demand wanes, supply remains tight. It is the tight supply picture that ultimately could make the metal rebound. Once credit conditions thaw and economic conditions improve, molybdenum has “slingshot” potential.
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