"A shortfall in molybdenum roasting capacity, a key factor in keeping spot prices well above $20/lb for two-plus years now, will continue for the immediate future, says metals consultancy Roskill Information Services.

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London-based Roskill says that while concentrate supplies had been plentiful, with mine output in surplus to demand in 2004 and 2005, there was a deficit in usable molybdenum because of limited roaster capacity."

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