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CPM Group released its 2014 Molybdenum Market Outlook, noting that the year saw the metal rebound after three years of declines.
CPM Group released its 2014 Molybdenum Market Outlook, noting that the year saw the metal rebound after three years of declines. Higher prices were brought “by the underlying strength in demand for molybdenum,” but looking forward through to 2016, a surplus may keep moly prices down.
A press release on the report also states:
In the near term, uncertainties may arise from pending changes to China’s export and resource tax policies. The government has maintained current molybdenum export duties for 2015 until further announcement in May 2015. In the meantime, the government may move ahead with proposed changes in resource taxes as early as the start of 2015. Prices may face short-term headwinds if the market grows concerned about possible outflow of Chinese stockpiles following the potential removal of current export duties. However, if policy changes increase domestic production costs in China, molybdenum prices may receive some fundamental support.
Over the next ten years, molybdenum supply growth will continue to hinge on supplies from copper mines that produce molybdenum as a by-product. The market share of by-product producers averaged 50.9% between 2010 and 2013. Molybdenum byproduct output is projected to increase at a CAGR of 5.6% and contribute more than 70% of new supplies expected to be brought online during the projection period.
Click here to read the full CPM Group press release.
https://www.cpmgroup.com/our-market-views/press-releases/all/cpm-group-releases-molybdenum-market-outlook-2014
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