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Gold/Mining/Energy : GOLDEN PHOENIX MINERALS, GPXM -- Ignore unavailable to you. Want to Upgrade?

To: pogbull who wrote (397)	9/5/2005 6:17:29 PM
From: pogbull	Read Replies (1) \| Respond to of 811

NON - FERROUS Molybdenum taking off in Europe as tightness unalleviated London 02 September 2005 14:04 Prices of molybdenum alloys in Europe all rose on Friday as buyers in search of large quantities found that the tightness of supply that had characterised the market in the early part of the year has not lifted. Molybdenum oxide was at $32-33 per lb on Friday, up from $30-31 on Wednesday, with duty-paid ferro-molybdenum up to $76-78 per kg delivered from $72.50-77. “I wanted ten trucks of molybdenum oxide but only got an offer for one when I went into the market,” said one European buyer, who reported paying $33 per lb for material. “Our policy was to stay away when it wasn’t busy in expectation of lower prices but we’ve come back and started rocking the boat as soon as we started buying,” he said. Traders agreed that an essentially tight supply side had met with demand that could not have been delayed indefinitely to propel prices up again. “It’s the same old story,” said one European merchant, who reported sales of oxide at $34 per lb and ferro-molybdenum at just under $80 per kg. “Neither producers, nor traders nor consumers have stock because nobody wants to sit on stock, so now when you want to buy there’s none around.” Copyright © Metal Bulletin PLC. All rights reserved.