Chinese imports of molybdenum concentrate and molybdenum oxide nearly doubled from January to February as overseas sellers stepped up competition with Chinese producers. This did little, although, to correct prices.
Imports of molybdenum into China surged in February as overseas sellers stepped up competition with Chinese producers. Imports of moly have surged because Chinese producers have found themselves largely unable to compete with cheaper import offers.
Government spending will spark a recovery in steel demand towards the end of the year; but its mark on the molybdenum market will be limited. Demand for molybdenum in China likely will rise 6 percent in 2009, then slip to 52,800 tonnes in 2010 before growing again in 2011.
The market for molybdenum, used as an anti-corrosion agent, may remain “in surplus” this year, Antofagasta said. For full story, click here
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