Molycorp (MCP +10.5%) skies on the announcement of a joint venture with Daido Steel and Mitsubishi to produce and sell "next-generation neodymium-iron-boron permanent rare earth magnets." The production will make use of a new technology allowing greater magnet performance with less reliance on the scarce rare earth dysprosium. End users will be the automotive and home appliance industries
Technical side stock has some resistance area is $31 and support level is $26.68
Technical side stock has some resistance area is $31 and support level is $26.68
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