Global molybdenum oxide prices ease on limited spot business
Global molybdenum oxide prices eased slightly in Asia, Europe and the US this week amid limited spot market business as consumers and suppliers concentrated on negotiating long-term contracts for 2011, market participants said.
Molycorp Inc. on Wednesday announced it would sell as much as $345 million in stock and in notes to help finance both general company operations and development of its mine in Mountain Pass, Calif. The stock component would start at a base of $200 million, with an option to go as high as $230 million if the trio of Wall Street underwriters find enough demand among investors.