China Molybdenum (洛阳栾川钼业) produces molybdenum and tungsten. It is a holding in REMX, the rare earth ETF I mentioned yesterday. Shares are up nearly 30% in Friday trading in Hong Kong (3993.HK), on no news...as of yet.
Update: China plans to restrict molybdenum mining in 2011. Same factor fueling the rare earth rallies.
Iron ore rally overshot
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The iron ore bear market rally needs a new spur as steel and margins stall:
Dalian futures likewise look toppy: And coking coal: Steel output is still
ri...
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