Molybdenum at 5-month low on slow global economic growth; South American mine closures fail to buoy

Molybdenum prices continued to trade under pressure in the week to Friday March 20 amid slowing global economic growth with South American mine shutdowns failing to give the market any support.

Both oxide and alloy prices have been on a downtrend since the beginning of the month and are now trading at their lowest levels since November 2019 amid weak spot consumer demand.
As of Thursday March 19, more copper, zinc and lead producers had reduced or halted operations in light of the rapidly changing conditions arising from travel restrictions in place across South American countries.

Among them, Freeport-McMoran said it may reduce copper and...

Published

Ewa Manthey

March 24, 2020

16:05 GMT

London