China's Moly Consumption Forecast to Hit 120,000 mt in 2015
China's molybdenum consumption in 2015 is forecast to hit 120,000 mt, rising to 135,000 mt by 2020, Henan Provincial Nonferrous Metals Geological & Mineral Reserve Bureau said in a report on its website Thursday, November 20.
The Henan province accounted for 40% of China's national moly concs output last year.
China's national moly output is forecast to hit 130,000 mt in 2015 and will rise to 150,000 mt by 2020, the report said.
Despite China's mining quota measure, its "per annum moly output still grew at around 3% in the past years [since 2010], due to a large number of newly added resources and new capacities," the report said.
As China's 13th Five Year Plan (2016-2020) for the domestic moly sector will be centered around control and reserves volume, it is likely that there will be a "boom in both demand and supply," leading to "a price rebound by [2020]," the report said.
The Henan government forecast China's 2014 moly concentrate output would hit 127,000 mt, up around 8% from 118,000 mt produced in 2013.
It attributed the rise to the country's growing ore selection capacity, which has grown to 352,000 mt/year in 2013, from 210,000 mt/year in 2008.
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