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China's Imports Of Molybdenum In Second Half 2009 Still Kept High Pace
= Imported 75.5 Million Lbs. On Mo Content Base In CY 2009
According to the customs-statistics released in China, the quantities of molybdenum exported and imported by China in the calendar year (January - December) of 2009 were as per the table attached hereto.

Namely, China aggressively imported 40.5 million lbs. of Mo in the first half (January - June) of 2009 and also imported 35.0 million lbs. of Mo in the second half (July - December), having slowed down somewhat from that in the first half but still kept a high level. By taking a chance on a sharp fall of molybdenum prices arisen in the first half of 2009, China imported aggressively molybdenum in the period but it has been clearly known from the statistics for the second half that the demand for molybdenum from China has differed from spot requirements.

China imported 75.5 million lbs. of Mo on content base (62,307 tons on material base) in the calendar year of 2009, which had a remarkable increase of approximately 12 times compared with 6.3 million lbs. of Mo on content base (5,599 tons on material base) imported in the preceding year of 2008.

On the other hand, China exported 12.0 million lbs. of Mo on content base (9,566 tons on material base) in 2009, having decreased by 68.2% compared to 37.8 million lbs. on content base (29,450 tons on material base) imported in 2008. However, China exported 4.6 million lbs. of Mo on content base in the first half of 2009 and also 7.4 million lbs. of Mo on content base in the second half, having recovered from that in the first half.

Accordingly, a balance on exports and imports of molybdenum by China in the calendar year of 2009 had become the excessive imports of 63.50 million lbs. on content base.

Also, the Central Government of China launched from the second half of 2007 to regulate molybdenum exports and, as a matter of fact, has adopted the quota system for molybdenum exports. The quantity of primary molybdenum allocated for exports in 2009 was 20,310 tons on material base as the first quota. China actually exported approximately 9,566 tons of molybdenum on material base in 2009, having come down to a lower level than the allocated quantity.

Chinese customers have already concluded with the contracts with such major mines as Codelco on imports of molybdenum for shipments in 2010 and these contracts will become an index for molybdenum prices in the future. Following the imports of molybdenum committed by China on a large scale in 2009, China is anticipated to import certainly molybdenum with a substantial quantity in 2010. The world demand for molybdenum in 2009 is estimated to be 410 - 420 million lbs. on content base and China is supposed to have played the main role of molybdenum transactions in the year.

It was informed that China would have stockpiled molybdenum in 2009 and, although the contents are not known , there is a view in the market that the imports of molybdenum by China in 2010 is thought to put a substantial impact on the world market of molybdenum.
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last modified : Fri 05 Feb, 2010 [09:55]
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