Molybdenum Overnight View: Oxide Prices Likely to Hit Psychological Low Again
Molybdenum oxide prices were expected to see marked declines late on Tuesday September 15, as market participants suggests levels could soon test the psychological barrier of $5.50 per lb.
In recent months, the market has tended to follow a loose pattern: once prices dip to $5.50 on the low end, a small, usually short-lived rebound ensues, usually to about $6 per lb. Prices stood at $5.70-5.90 per lb at the end of last week, but are not likely to stay close to these levels for much longer, sources said.
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