Futures have a sharp rise on LME to US18.16 per pound. These figure now are approaching Molybdenums rise of in 4 months UP 75%. More rises anticipated in the next few days as Chilese wooes are slowly revealled. Molymets mines are inland about 100km so their infrastructure of transport would take a while to recover.
Now how did we let the Chinese come in so cheap. Obviously we are in a hurry to get the ball rolling in exports and the management has done an excellent job in the process for that time last year. Certainly will be Hanlong's crown jewel once full production and export happen in 18 months or so.
MOL Price at posting:
86.0¢ Sentiment: Buy Disclosure: Held
