The world's demand for molybdenum

Relevance

The world's largest molybdenum producers, expect that demand for molybdenum can grow at 5-5.5% annually due to energy development. The use of molybdenum alloys in oil drilling equipment supports this increase, and demand from China's nuclear power plants will grow 20% per year. There will be a shortage of metal in the market over the next two years.

Production growth.

Thomson Creek plans to produce 18 million pounds of molybdenum this year and intends to increase production to 34 million pounds annually. Molybdenum companies, including the world's largest producer of the metal, Freeport McMoRan Copper & Gold Inc., are ramping up production to benefit from a significant price increase.

Supplier

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