Molybdenum prices are still on the slide, showing the markets poor essentials. There is a debate within the marketplace due to future prices, because some analysts say they are more weak further in early 2010 while atleast one producer will see a demand surge ahead.
Steel Mills are working in Molybdenum inventories and ordering new supply, so the spot price have slid to an estimate $10.75/lb from an estimate $11.01 in Novemeber 2009 and the highest of $16.64 in August.
In summer 2008, the mills were purchasing Molybdenum at length just prior to the pick up in weekly carbon steelmaking output that has since stopped. “The mooted revival in the stainless steel industry has failed to materialize,” said independent consultant Angus MacMillan.