Molybdenum News Center

January 20th 2016 Molybdenum Market

China molybdenum market: Chinese New Year approaching, many molybdenum manufacturers are in holidays and stop to operation so the market is generally tight in supply. Besides, the storage of molybdenum concentrate is not too much. So whether molybdenum mines price or ferromolybdenum price is all increasing with rapidly. Molybdenum chemical and series molybdenum products price follow to rising when the price of raw material is increase. Recently, molybdenum market will remain optimistic mood.

International molybdenum market: according to reports Zimbabwe Mining will remain at a standstill, there will be no improvement.

Mining Association of Zimbabwe president Isaac Kuisu (Isaac Kwesu) 14^th, said that as global mineral prices is falling, tight liquidity, mining company currently focused primarily on short-term strategies instead of the planned implementation of major investment projects. Most of the new minerals projects have been stopped.

This month, the Zimbabwe Mining Association will release the industry report.

Zimbabwe platinum and chromite has an important position in the world, second only to South Africa. In addition, coal, diamonds, nickel and gold resources are very rich. Currently, this country is facing the most severe liquidity crisis. The government and some enterprises has problem on payroll. On the other hand, two decades the most severe drought also makes the country have to pay for food imports.

Zimasco Company closed most mines and smelters on chromite mineralization belt - large rock walls. Unable to pay $ 65 million debt, Zimasco Company on January 8 has applied for judicial management.

Kuisu speculated that Zimbabwe National Union of Miners likely in 2016 requires a 10% increase in pay. 

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