Molybdenum supply issues keep prices high

World demand for steel-strengthening alloy molybdenum is expected to grow 5.8% this year, forecasts Catherine Virga of the CPM Group in New York. And with supply lagging demand, present molybdenum prices (above $30/lb for the past 10 months) are sustainable, she tells the recent annual meeting in Toronto of the Prospectors and Developers Association of Canada.