By Purchasing Staff -- Purchasing, 4/9/2009 2:00:00 AM
Molybdenum suppliers including Erdene Resource Development Corp. plan to cut output dramatically this year in an effort to push moly prices up. But those moves could create supply issues when demand for steel comes back. Douglas Horn, commodity analyst at CPM Molybdenum, says prices will stay low at between $10.50–$11/lb, but in 2011 it will rise to above $20 as demand rebounds.
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