China Molybdenum Expects Specialty Steel Sector to Support 2013 Molybdenum Price
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- Category: Molybdenum's News
- Published on 24 June 2013
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A molybdenum concentrate producer said that it expects the domestic specialty steel sector to support molybdenum prices this year, despite expectations of little improvement in the global economy.
In its annual earnings report filed with the Shanghai Stock Exchange, the Henan-based producer said that while it did not see any sign of the global economy improving this year,
"moly as a vital material in specialty steel and new alloy materials should enjoy faster growth in China's domestic moly consumption, thus moly prices are expected to be stable in 2013, with rising trends."
It added: "Although China's steel capacity is still in a surplus state, we see specialty steel sector, the moly consumer, to enjoy comparatively bigger output growth."
"Specialty steel now only accounts for 6-10% of China's steel output, lower than 15-20% of the world's average levels, and much lower than the 30% or more in the industrialized nations."
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