Molybdenum Prices to Double

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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.”

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