China's Moly Producers to Face Another Challenging Year in 2015
Chinese producers of molybdenum concentrate and ferromolybdenum will face yet another challenging year in 2015 characterized by relatively low prices and steady demand, market sources said at a molybdenum event in Xiamen at southern China's Fujian province over the weekend.
Participants at the event anticipate domestic molybdenum concentrate prices to average around current levels of Yuan 1,100/mtu ($179/mtu) this year -- substantially lower than average prices seen over the last three years.
China Molybdenum Wire Export Tax Was Investigated by EU
The EU said Chinese manufacturers exporting to the region in order to avoid tax "minor alteration" after the product is likely to expand the tax on imported cars in China with molybdenum wire.
Spray molybdenum wire in the car, especially truck applications more widely. The EU is investigating whether Chinese producers changed the diameter molybdenum wire to avoid taxes as high as 64.3%.
Japanese Steel Mills Turn to Moly Oxide as Spread to Ferromoly Remains Wide
Some Japanese steelmakers are switching to molybdenum oxide from ferromolybdenum due to the wide price spread between the two products, market sources said March 5.
One Japanese steelmaker has decided to halve its consumption of ferromoly by switching to moly oxide, given that moly oxide prices were $3/kg cheaper, one mill source said.
Gold Specialist Acquires Moly Mines
Starcore International Mines Ltd, which focuses on exploring, extracting and processing gold and silver has acquired all of the shares of Creston Moly Corp, which owns three molybdenum-copper mines.
This follows the Supreme Court of Canada’s discharge of Creston Moly from bankruptcy, clearing the way for Starcore to continue with the development and further exploration of Creston's properties.
Researchers Develop New Technique for Making Molybdenum Disulfide
Graphene, a single-atom-thick lattice of carbon atoms, is often touted as a replacement for silicon in electronic devices due to its extremely high conductivity and unbeatable thinness. But graphene is not the only two-dimensional material that could play such a role.
University of Pennsylvania researchers have made an advance in manufacturing one such material, molybdenum disulphide. By growing flakes of the material around "seeds" of molybdenum oxide, they have made it easier to control the size, thickness and location of the material.
Molybdenum Supply Exceeds Demand by 14 Million Pounds in Third Quarter
Global production of molybdenum increased to 150.3 million lb in Q3, up 5% from 142.9 million lb in the previous quarter, and up 11% year on year, IMOA said. Global use of molybdenum in Q3 fell slightly to 136.4 million lb, down 3% from 139.9 million lb in the previous quarter and 1% lower than the same quarter of 2013. North America remained the biggest producer, with Q3 production rising 7% to 53.3 million lb from 49.9 million lb in Q2 and 20% from Q3 2013.
Excess Supply of Molybdenum Prices Will Decline After 2016
Consultancy CPM Group (CPM Group) latest report, molybdenum prices experienced a continuous decline in the three years after a slight rebound in 2014; however, by the recent mid-term excess supply outlook and the impact of the expected annual molybdenum in 2016 after prices will fall.
Supply Overhang Likely to Cap Molybdenum Prices in Near Term
Molybdenum prices rebounded in 2014 after three consecutive years of annual price declines, but looming surpluses over the near- and medium-term horizon are likely to weigh on annual prices through 2016, according to US-based consultancy CPM Group.
Growth in global molybdenum demand is estimated at 3.1% in 2014, up from 2.9% in 2013, CPM said late Monday at the release of its latest Molybdenum Market Outlook publication.
Adequate Supply of Molybdenum Concentrate in 2015
"As the production capacity of existing projects and new projects can be expanded, molybdenum ore supply will increase significantly next year, will rise to excess supply of molybdenum." Jorge Cantallopts research and policy planning director at the Chilean Copper Commission recently hosted by the British "Metal Bulletin when "(METAL BULLETIN) and Minmetals jointly organized the" 2014 Forum molybdenum international market, "said he expects the next two years were the Chilean molybdenum supply growth of 16%.
Latin Resources Intersects Visible Copper and Molybdenum at Ilo Este
Latin Resources (ASX:LRS) shares are expected to lift after the company discovered that copper mineralisation continues over 1.1 kilometres of strike at the Ilo Este project in Peru.
This potentially points to a large copper porphyry system, with Latin already in discussions with a number of potential partners to further evaluate such a large system.
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