Reuters
An upsurge in Chinese demand and imports of minor metal molybdenum have revitalised prices of the stainless steel ingredient, but a reversal is expected as local production ramps up after disruptions. Molybdenum oxide prices are up nearly 10% to around $7.8 a lb since July's 3-1/2 year low at $7.1 a lb. Disruptions in China include Yichun Luming Mining, producing around 30 million lbs a year, which was ordered to suspend molybdenum output earlier this year because of a tailings dam that leaked and contaminated local rivers.