According to the Canadian head of Thompson Creek Metals Co. Kevin Lafri made by them on February 26 an increase in steel production is increasing demand for molybdenum, especially on the part of consumers in Western Europe and Asia. «The sectors that we sell [Mo], become stronger, and the stainless steel market is also improving," — said Mr. Lafri teleconference devoted to the discussion of the results of 2009, adding that since the Western steel companies almost exhausted the reserves of raw materials, they may want to start their fill. «Most manufacturers do not have the reserves of molybdenum, and this is the reason for the price increase. Market returns, and I feel that the short- and medium-term prospects are favorable for us, «- said Mr. Lafri. Sales of Thompson Creek to European producers are expected to be in 2010 20% of the total volume. Also, the manager said molybdenum sales growth in India and South Korea.
The company plans to produce in 2010 29−32 million pounds of molybdenum, compared with 25.3 million pounds in 2009 and implemented in the market this year, 27−30 million pounds of metal.