Abstract
The new Roskill report on the rhenium industry will be published in October
2007. It will provide up-to-date market analysis of resources, production,
consumption, end-use market trends, international trade and prices.
Like all Roskill reports, this new edition of The Economics of Rhenium will
give you a completely impartial industry overview. Our expert researchers have
made a thorough and objective analysis of all available data from the world' s
most reliable sources, including a large and invaluable network of industry
contacts. That' s why the breadth, depth, accuracy and expertise of our
research is unrivalled.
The new edition of this report has been extensively revised and updated,
containing the most up-to-date information available on the rhenium industry.
This report offers you 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:
- Three companies produce nearly all primary rhenium, Molymet of Chile,
Zhezkazganredmet (Red Met) of Kazakhstan and Phelps Dodge of the USA. Molymet
is by far the largest producer, accounting for about 45% of primary rhenium
(20,100kg) in 2006. The company plans to open a new molybdenum roaster in
2007, which could be capable of recovering as much as 8.5tpy of rhenium.
- Since the 1980s, demand for nickel-based superalloys has grown rapidly and
is now the single largest market for rhenium, accounting for over 75% of the
world total. Rhenium-bearing superalloys were originally developed by aircraft
engine manufacturers. These are capable of operating at much higher
temperatures, and for longer periods of time, than previous alloys, and led to
major changes in aircraft design. Demand for rhenium in this sector will
remain strong, as there are currently no substitutes.
- The current supply-demand balance for rhenium is very tight and is likely
to tighten further, at least in the short term. World demand in 2006 was
estimated at 62,000kg of which 44,600kg (72%) was met by primary production.
The balance was largely from recycled material and the sale of stock from
Kazakhstan. Demand is forecast to continue growing in coming years, largely
because of anticipated growth in passenger and military aircraft.
- Strong demand from the aerospace sector and limited supplies has led to
strong growth in prices since 2006. The price of ammonium perrhenate has risen
from around US$1,000/kg at the start of 2006 to over US$7,000/kg. Roskill
expects prices to continue rising in the short term but anticipates that new
capacity, both primary and secondary, may be brought online within three to
five years. Prices for ammonium perrhenate could rise to US$10,000/kg by 2009
before stabilising on or close to this level, depending on the supply/demand
balance.
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