Abstract
This report provides up-to-date market analysis of resources, production,
consumption, end-use market trends, international trade and prices.
This report offers in-depth, independent analysis of the current and future
supply, demand from end-use markets, and the implications these developments
are likely to have on prices in the future, including:
- Continued strong growth in Chinese demand for molybdenum is expected as
stainless steel production capacity is scheduled to double by the end of 2006.
- There may be a decline in Chinese supplies to the West (maybe to zero) as
Chinese demand increases and its production either plateaus or even declines
because of restructuring of the domestic mining industry.
- Molybdenum production in the USA, Chile and Peru was able to increase
rapidly in 2004 and 2005, mainly by employing unused capacity to meet
increased demand. This is unlikely to continue, and new projects may take some
time to come into production. There could be a period in 2006/07 of very tight
supply, if demand continues to rise....
- Highly corrosion resistant molybdenum-bearing stainless steel appears to
be gaining ground on other types of stainless steel. Consequently, growth
rates for molybdenum demand could be higher than those for stainless steel
market as a whole.Although the price of molybdenum eased slightly through late
2005 and early 2006, it could be expected to rise again through 2006."
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