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| China Exported 16,846 Tons In Material Of Molybdenum In 1st Half 2008 |
| = Actual Exports Were Within Allocation, The Exports Decreased By 43% Compared To Same Period 2007 |
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The actual quantities of molybdenum exported and imported by China in the first half (January - June) of 2008 were as per the table attached hereto. Namely, in the first half of 2008, China exported 16,846 tons in material (corresponding to 20.96 million lbs. of Mo content) of molybdenum and, on the other hand, imported 3,626 tons in material (corresponding to 4.08 million lbs. of Mo content) of molybdenum. The Central Government of China announced on the end of 2007 and in July of 2008 the quantities of molybdenum allocated for exports and has enforced the quota system to allocate for each exporter. The quantity (on material base) of molybdenum allocated as the first step is 29,983 tons and that as the second step is 12,824 tons, having totaled to 42,807 tons in material of molybdenum for exports in the full year of 2008. Therefore, the total quantity of molybdenum allocated to be exported from China in the calendar year (January - December) of 2008 comes to 42,807 tons on material base and, when half of the total quantity is allowed to export from China in the first half of 2008, the actual quantity of molybdenum exported from China in the first half of 2008 was within the allocation and complied with the quota, because the total quantity (on material base) of molybdenum exported from China in the first half of 2008 was calculated to have reached to 16,846 tons. The quota system for exports of Chinese molybdenum has been enforced from the second half (from July) of 2007 and, as far as the actual quantity of molybdenum exported from China in the second half of 2007 is concerned, the exports were unable to comply with that as allocated. However, owing to the unrestricted exports of molybdenum from China in the first half of 2007, the total quantity of molybdenum exported from China in the calendar year of 2007 was not possible to be within the allocation but the actual quantity of molybdenum exported from China in the first half of 2008 came to be within that as allocated. In consequence of the quota system for exports of molybdenum enforced in China, the actual quantity of molybdenum exported from China in the first half of 2008 had a considerable decrease of 42.9% on Mo content base in comparison with that in the same period of 2007. China was one of major countries in the world to supply molybdenum but a decline in supplies of molybdenum products from China has put a substantial influence on the world market of molybdenum. Prices of molybdenum products have risen to a large extent and still maintained the high levels. The published price of molybdenum oxide averaged on movements in the first half of 2008 came to US$32.89 per lb. of Mo, having risen by 17.0% compared with that (US$28.11) in the same period of 2007. China exported 72 - 74 million lbs. per annum of molybdenum in products in their best days but their exports in 2007 decreased to a scale of 50 million lbs. per annum of Mo content and China is anticipated to decrease further their exports of molybdenum in 2008 to a level of 40 million lbs. of Mo content on an annualized base by a considerable decline. This aspect is supposed to be a reason, why the world supply of molybdenum in 2009 is thought to continue on the tightened situation. |
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| last modified : Tue 02 Sep, 2008 [11:09] |
