Strikes in Chile fail to support falling molybdenum prices

The molybdenum market continued to weaken in the first half of the week with strikes at two Chilean producers failing to give support to the prices amid thin spot liquidity.

Strikes in Chile at Codelco's Chuquicamata plant and Molymet's Nos plant starting on June 14 and 10 respectively had initially boosted molybdenum oxide prices but the rally was short lived, market sources said. In the first quarter of 2019, Codelco produced 5,300 tonnes of molybdenum. Meanwhile, Molymet's Nos plant produced 86 million lb of molybdenum last year. News of...

Published

Ewa Manthey

June 27, 2019

15:15 GMT

London