Bargain hunters have helped molybdenum recover after prices crashed to two-year ...
LONDON - Bargain hunters have helped molybdenum recover after prices crashed to two-year lows, but ample supplies of the metal used to make stainless steel mean further significant gains for now are unlikely, analysts say.
The slide started in September, triggered by one producer selling at a discount to prices in the spot market, trading sources say. A move toward $10 a lb last week prompted traders to sell into the rally. It now stands above $9 a lb.Until September, prices were steady around $11-$12 a lb, despite the prolonged trade dispute between the United States and China which has undermined economic activity, growth and demand globally.
CRU estimates molybdenum production in Chile fell to a four-year low of 27 million lbs in the second quarter and rose to 30 million lbs in the third quarter. “People don’t want to hold inventory,” said Roskill analyst Olivier Masson. “Guidance from stainless producers is not good.”
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Accenture And Amazon Managed Blockchain Connecting Small-Scale Producers Into The Value ChainTrust and transparency in supply chain models is essential to creating an inclusive economy that promotes social equality, as well as reduces waste by accurately aligning the supply and demand.
Weiterlesen »
Iran stages pro-government rallies after days of violent unrestThousands of supporters of Iran's clerical establishment rallied in Tehran ...
Weiterlesen »
Iranians Hold Pro-Establishment Rallies, Blaming U.S. for UnrestThousands of Iranians staged a pro-establishment rally in Tehran and other cities in a show of support after the country’s leaders suppressed protests that erupted this month over a sudden hike in gasoline prices.
Weiterlesen »
Thousands rally in support of Israel's Netanyahu after graft indictmentSeveral thousand Israelis rallied on Tuesday in support of Prime Minister Benjam...
Weiterlesen »
Further to run for global stocks, but trade salve needed: Reuters pollThe global stock market rally has further to run in 2020, according to analysts,...
Weiterlesen »