Moly Prices to Rebound by 2020?
Moly prices could be in for a boost in the next five years if the metal is buoyed up by increased consumption and production in China.
According to Platts, a report released Thursday states that the country’s moly consumption is set to hit 120,000 metric tons (MT) in 2015, reaching 135,000 MT by 2020. The report was put out by the Henan Provincial Nonferrous Metals Geological & Mineral Reserve Bureau, and it’s worth noting that Henan is especially important in China’s moly space — the province was responsible for roughly 40 percent of the country’s moly concentrate output last year.
China May Cancel Export Quotas on Tungsten, Molybdenum
China said it is keeping export quotas on a clutch of industrial metals unchanged for 2015 but was silent on tungsten and molybdenum, leading to speculation exports of the two minor metals won't be subjected to quotas next year.
Quotas for exports of tin, antimony, indium and silver are unchanged from this year, according to a statement posted on the Ministry of Commerce website on Thursday.
But the statement did not provide quotas for tungsten and molybdenum, which were announced at the same time as the four metals in previous years. China is the world's top producer of tungsten and molybdenum, as well as refined tin, antimony and indium.
China may cancel the quotas for the two metals as a follow up action after it lost an appeal at the World Trade Organization in August, two analysts said.
Morning Molybdenum Market Guidance on October 22
On October 21, LME molybdenum futures price remained relatively stable. March molybdenum offer 19500/20500 dollars / ton; 15-month molybdenum offer $ 20000/21000 / tonne, LME molybdenum positions 156 hands.
Macro News: Resource tax reform timetable settled, which has the full implementation in the next five years; September revenue rose only 6.3 percent, spending is still outperforming revenue; GDP of third quarter up by 7.3%, commodity prices are still under pressure.
The current favorable internal and external factors began to be weaken, and the prices continue to rise, lack of motivation, which has some negative impact on the business outlook expectations. Lack of substantive demand, supply and demand still room for improvement, although manufacturers are still orders exist, turnover was higher than the previous, high turnover difficulties in promoting the market continues to improve.
Molybdenum Concentrate Quality Standards (Mass Fraction)
Molybdenum concentrate quality standards (mass fraction).
Molybdenum Oxide Prices Hit Six-month Low, Ferromoly Softer
Spot molybdenum oxide prices have subsided to their lowest levels in almost six months, with the Platts daily dealer oxide assessment hitting $11/lb for the first time since the beginning of April.
China Needs to Accelerate the Establishment of Molybdenum Concentrate Reserve System
September 4, 2014, according to Chile's "strategic News" report, Chile's national copper company Codelco plans to increase 25,000 tons in the original production of molybdenum before 2023 years, based on the planned 58,000 tons, increased by 43%. The thing that Codelco plans to increase molybdenum production undoubtedly worsens the already overcapacity molybdenum industry, so China should accelerate the establishment of the domestic terms of molybdenum concentrate Reserve System.
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