Molybdenum News Center

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.

China is the world's richest countries of molybdenum reserves, reserves of about 4.3 million tons, accounting for the global molybdenum reserves of about 44%; but also China is the largest country in the world's molybdenum production. For a long time, China has been a net exporter of molybdenum products. Since 2005, China canceled the molybdenum processing trade policies, which makes China imports of molybdenum concentrate and molybdenum concentrate roast, and molybdenum iron exports have a more substantial reduction since 2006. In 2007, China implemented the policy of molybdenum export quotas for exports of primary products, such as molybdenum charge restrict, which leads to a further reduction in export volume. 2008-2014, China molybdenum exports quotas overall downward trend, 2009-2011, China's molybdenum export quotas were 25,500 tons. 2012-2014, China's molybdenum export quota was 2.5 million tons.

As the state of policy control effect of molybdenum industry is gradually emerging, rapid increase in domestic production of molybdenum, molybdenum concentrate annual average of the past three years is at around 100,000 tons in 2013, the annual output is up to 111,000 tons; while in recent years, China Mo concentrate consumption is about 70,000 tons, molybdenum concentrate has much excessed production capacity for a long time, and experienced a price pressure.

But with the United States, Japan, the European Union against China's rare earths, tungsten, molybdenum trade lawsuit against China, China will have to cancel the rare earths, tungsten, molybdenum export tariffs adopted, export quotaspolicy that has been implemented for several years. As a result, China's large surplus will be exported to foreign countries molybdenum, molybdenum production in Chile increased contributing to global oversupply of molybdenum, molybdenum is expected to drain our resources in the future will increase.

And Mo is a very important metal, known as a strategic metal, is widely used in metallurgical machinery, electrical defense, aerospace and other fields, so China must accelerate the strategic reserve of molybdenum resources from mining, industry consolidation, environmental protection, export management, etc. control many aspects of production, accelerate the establishment of molybdenum concentrate reserve system.




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