Abstract
China' s molybdenum market showed a steady decline in 2006 but the price still
held high.
China produced 78,123 tons of molybdenum concentrate in 2005. As molybdenum
mines in the Huludao area stopped production for regulation, the production
was 6.48% less than 2004.
According to statistics, From Jan 2006 to Nov 2006, China' s total output of
molybdenum concentrate hit 86,895 tons, up 48.65% over 2005. Particularly,
Henan topped the 1st in molybdenum concentrate production among Chinese
provinces. Its total output of molybdenum concentrate was 38,338.4 tons by
Nov. Compared to the same period of the previous year, the growth was 125%.
The molybdenum concentrate output in China is expected to increase at a pace
of 10,000-15,000 tons per year in the next five years. In addition, the ferro
molybdenum and molybdenum oxide outputs will also see an expansion. Presently
many molybdenum projects are under construction or planned to start. Expansion
programs are made by domestic manufacturers, which will improve China' s
production capacity of molybdenum somewhat in the near future. Then, not only
the molybdenum concentrate, but the ferro molybdenum and the molybdenum oxide
will witness an increase in output.
According to China Customs, China has exported 17,342 tons of ferro molybdenum
and 26,926 tons of molybdenum oxide by Nov 2006, down 31% and 4.93%
respectively from the year-earlier period.
Among all the molybdenum exports, ferro molybdenum and molybdenum oxide
accounts for the largest proportion, which is closely related to the product
structure in China' s molybdenum industry. Take a look at export data in the
past years and we find that molybdenum chemical products and molybdenum deep
processing products took up only 8% to 12% of all molybdenum exports, while
export quota of ferro molybdenum and molybdenum oxide was 88%-92%. All of
these tell that product structure in China' s molybdenum industry is still
unbalanced and unreasonable.
Now great changes are taking place as some molybdenum manufacturers constantly
extend their products, for instance, Jinduicheng Molybdenum Group Co., Ltd and
China Molybdenum Co., Ltd, the two largest molybdenum manufacturers in China,
have introduced deep processing production lines as well as foreign advanced
technologies in recent years, taking the lead in progressing production
structure adjustment in the whole molybdenum industry.
China' s molybdenum exports are mainly sold to Holland, Korea, Japan, Chinese
Taiwan, USA, and India.
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