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"Demand from Asian markets has boosted molybdenum over the past weeks, in spite of lagging North American demand. The strategic metal is currently trading in the range of $10.60 to $10.80 a pound, up from $10 to $10.50 a pound less than two weeks ago. Spot prices for molybdenum sank as low as $7.50 a pound in April but then began to bounce back, rising to 10.25 a lb in June. “Prices over-corrected on the downside and we may have some more violent price swings. The big stainless producers are coming back more and more, and there are a lot of spot sales,” claimed one molybdenum trader."

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