"Molybdenum prices will likely stay at around US$30.00-31.00/lb this year and start descending in 2008, along with other base metals, Stefan Ioannou, an analyst with Haywood Securities, told BNamericas.

The molybdenum market is expected to grow roughly 5%, or by some 20Mlbs (9,072t), in the coming years. The world consumes some 400Mlb/y of the base metal, which is used mostly to create high-strength steel, Ioannou said."

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