China Molybdenum Industry Report of 2009-2010

Molybdenum is an important strategic metal, with relatively concentrated reserves and production. As of 2009, the global molybdenum reserves had reached 8.665 million tons, of which China, the United States and Chile accounted for 38.4%, 31.3% and 12.7% respectively. The global molybdenum output in 2009 was 190,000 tons, of which China, the United States and Chile accounted for 38.5%, 25% and 16% respectively.

Since 2008, except Chinese enterprises including Jinduicheng Molybdenum and China Molybdenum, global well-known molybdenum producers including Freeport-McMoRan, Codelco and Thompson Creek have seen decline in the molybdenum output, and their delay in new/expansion projects have confined the growth of global molybdenum supply.


By contrast, Chinas molybdenum industry has seen rapid development in recent years, with steady growth in the molybdenum output and demand. China's molybdenum output reached 45,000 tons in the first half of 2010, a year-on-year increase of 13%, while the consumption already reached 54,000 tons in 2009, with demand ranking first in the world.

Chinese molybdenum producers are mainly distributed in the regions with rich molybdenum reserves, such as Henan, Shaanxi and Liaoning. At the same time, there are many enterprises which are engaged in the deep processing of molybdenum products in Jiangsu and Fujian.

Jinduicheng Molybdenum is the largest molybdenum producer in Asia, accounting for 14% of the global molybdenum reserves and 8% of the global molybdenum output. At present, Jinduicheng Molybdenum is enhancing its capacity in the deep processing of molybdenum chemicals and metal products. China Molybdenum has rich mining resources but weak molybdenum deep processing capacity, with an annual capacity of 1,000 tons only.

New China Dragon Molybdenum is a major industrial molybdenum oxide and molybdenum iron producer in China. Shunchi Tungsten & Molybdenum Products and WanXin Tungsten & Molybdenum Products are engaged in the deep processing of molybdenum chemicals and metal products.

 

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