Major molybdenum mines flood

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Major molybdenum mines flood

Chinese Molybdenum prices have risen since last week since the major mines have flooded.

The price has increased by 5% and the main mines have closed causing the increase as its unsure when they will be reopened again.

The biggest producer of molybdenum has obviously had to close due to the flooding and the water has affected the workers and stopped them from being able to carry on.