In 2012, the global economic growth was weak, the bulk commodity
demand was reduced, and the prices
generally declined. As a result, the
molybdenum market remained in the doldrums, the prices showed a downward
trend, and the annual average price was USD 12.74 per pound of
molybdenum, a decrease of 17.5% from 2011. At the end of 2012, the
supply of molybdenum ore decreased, the demand from steel mills
increased, and the molybdenum price began to rise.
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In 2012, the global molybdenum output was 229 kilotons and the
consumption was 225 kilotons, basically in balance. With the recovery of
steel demand since the fourth quarter of 2012, the demand for
molybdenum is expected to resume growth. After 2014, some mines
currently under construction will start production, such as Chile’s
Sierra Gorda copper-molybdenum mine (controlled by KGHM and Sumitomo
Metal) that is expected to start production in 2014. In addition, Grupo
Mexico and Rio Tinto also plan to increase production.
China is a large producer and consumer of molybdenum in the world,
and the global increment in the production and consumption of molybdenum
in the past two years mainly came from China. In 2012, China produced
92 kilotons of molybdenum (equivalent to metal content), accounting for
40.2% of the global molybdenum output, and consumed 85 kilotons,
accounting for 37.8% of the global molybdenum consumption. Due to the
national protection on strategic resources, molybdenum resources will be
concentrated in large enterprises, and the supply will be effectively
controlled.
Global molybdenum producers are mainly concentrated in countries
with rich molybdenum reserves such as China, the United States and
Chile. Global top 10 molybdenum producers account for 2/3 of the global
output. Mineral resources are controlled by major molybdenum companies,
and the access to large-quantity and high-quality molybdenum ore
resources has become the biggest obstacle to entering the industry.
In 2012, top 10 molybdenum producers accounted for 66.4% of the
global output, and the U.S. Freeport was the largest molybdenum producer
with a share of 17%, followed by Chile’s Codelo and GMexico.
Chinese molybdenum production enterprises are mainly concentrated
in the regions with rich molybdenum reserves such as Henan, Shaanxi and
Liaoning. Jinduicheng Molybdenum and Luoyang Molybdenum, the owners of
world-class molybdenum mines Jinduicheng Molybdenum Mine and Luanchuan
Molybdenum Mine respectively, are in the forefront of the world, and
ranked fourth and fifth respectively in the world in terms of molybdenum
output in 2012.
With six chapters and 89 charts, Global and China Molybdenum
Industry Report, 2012-2015 makes an in-depth analysis of the development
background, current status and market pattern of molybdenum industry in
China and worldwide, and sheds light on the production, operation and
development trend of global molybdenum industry leaders such as FCX and
GMexico as well as Chinese enterprises including Jinduicheng Molybdenum
and Luoyang Molybdenum.
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