WORLD MOLYBENUM NINE SUPPLY

摘要

Increased molybdenum consumption in the first half of 2004, especially in the United States, exacerbated by reduced Chinese exports and lower byproduct production from copper mines, resulted in molybdenum prices spiking to 25-year highs. Prices ended 2004 at more than 30 dollars/lb, and averaged 16 dollars/lb for the year. So far in 2005, prices continued above 30 dollars/lb, despite predictions of increasing supply. The current consensus view of the market for 2005 is that rising production will begin to balance continued strong demand, and that prices will gradually decline in the second half of the year.