Global demand for molybdenum in 2010 is likely to be dictated by Chinese consumption and stockpiling, a report by metals and minerals information provider Roskill has said.
The firm said cutbacks by major producers, combined with stockpiling in China, had resulted in a tightening of supply over the last year, causing prices to spike in mid 2009.
Prices have been volatile in the past six months. Between July 2009 and August 2009, prices for molybdic oxide and ferromolybdenum doubled, before dropping by 50% over the following two months. By January 2010, the price had increased...