Future of Molybdenum Globally
- Details
- Category: Molybdenum knowledge
- Published on 25 September 2013
- Written by 陈桂兰
- Hits: 479
In 2012, the global economic growth was weak, and as a result, the molybdenum market remained in the doldrums, with an annual average price of US$12.74 per pound of molybdenum, a decrease of 17.5% from 2011. At the end of 2012, however, the supply of molybdenum ore decreased, the demand from steel mills increased, and the molybdenum price began to rise.
In 2012, the global molybdenum output was 229 kilotons and the consumption was 225 kilotons. With the recovery of steel demand since the fourth quarter of 2012, the demand for molybdenum is expected to resume growth. After 2014, some mines currently under construction will start production, such as Chile’s Sierra Gorda copper-molybdenum mine (controlled by KGHM and Sumitomo Metal) that is expected to start production in 2014. In addition, Grupo Mexico and Rio Tinto also plan to increase production.
Global molybdenum producers are mainly concentrated in countries with rich molybdenum reserves such as China, the United States and Chile. Global top 10 molybdenum producers account for two-thirds of the global output. Mineral resources are controlled by major molybdenum companies, and the access to large-quantity and high-quality molybdenum ore resources has become the biggest obstacle to entering the industry.
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