Molybdenum supply deficit likely to persist through ’09, exec says
Nov 30, 2007 | 12:02 PM
| Meghann McDonell
The global molybdenum supply deficit won't ease until 2010, with the oil industry and industrial development in China driving strong demand, according to an industry executive.
"Demand is robust, with the oil industry and China as the main drivers," Mark Wilson, vice president of marketing and sales at Thompson Creek Metals Co. Inc., Englewood, Colo., said in a presentation in New York. "Market tightness is going to last through 2009, with supply unlikely to keep pace with demand."
As demand continues to grow at a rate of 4 percent annually, the world will require an additional 107 million pounds of material between Jan. 1, 2008, and Jan. 1, 2010, so the shortfall will continue until Freeport-McMoRan Copper & Gold Inc.'s Climax molybdenum mine starts production around 2010, he said. Output from the Climax Mine, which is expected to produce 30 million pounds of molybdenum a year, will satiate the supply deficit unless growth exceeds 4 percent a year.....
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