Freeport-McMoran cuts molybdenum production
Freeport-McMoran Copper & Gold Inc. says it is cutting molybdenum production by 25 percent at one mine and delaying the start-up of a second because of falling prices.
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.