| Phelps Dodge sees 06 molybdenum likely over $23/lb |
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| Written by Reuters | |
| Thursday, 27 April 2006 | |
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"Phelps Dodge Corp. said it forecast an average molybdenum price of $23 per lb for the second quarter, but with both chemical and metallurgical markets growing at above trendline rates, prices would likely be higher than forecasts. Arthur Miele, senior vice president for sales and marketing, told analysts on the company's first-quarter conference call that the world's No. 2 copper producer was also looking for an average price for the year between $18 to $25 a lb." |
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