Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Metals

Molybdenum prices to rise in 2017 as demand recovers: Cochilco

Metals | Steel | Raw Materials

India's steel sector: turning a corner or facing more hurdles ahead?

LNG | Natural Gas | NGL

Platts LNG Alert

Commodities | Metals | Steel | Materials | Building & Construction | Financial Services | Macroeconomics

Steel Markets North America Conference, 16th Annual

Oil | Crude Oil

Belarus says Russia offers compensation for oil customs duty losses: report

Molybdenum prices to rise in 2017 as demand recovers: Cochilco

Santiago, Chile — Molybdenum prices will rise over the next two years as rising demand tightens a global surplus of the metal, a Chilean government agency said in a report Thursday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

According to the Chilean Copper Commission, which monitors the mining industry and markets for the government, molybdenum prices will average $7/lb during 2017 and 2018, compared with $6.60/lb this year, as demand increases in China and the global oil and gas industry.

"The recent agreement by oil exporters at OPEC to reduce oil production, which has led to a significant increase in oil prices, bodes well for molybdenum demand," Cochilco said.

Global demand could rise 4.2% next year to 289,000 mt, following 1.1% decline in 2016, Cochilco said. Another 6.1% increase is forecast for 2018 as growing demand in China, the US and Europe offsets lower consumption in Japan.



Meanwhile, global production will rise 7.2% next year to 297,000 mt, driven by higher secondary production from copper mines in Chile and Peru as well as a gradual recovery at primary molybdenum mines.

Chilean production is set to hit a record 63,000 mt, Cochilco said.

Global production will rise again in 2018 to 309,000 mt, Cochilco said. As a result, next year's predicted surplus of 7,900 mt will shrink to around 1,800 mt in 2018.

--Tom Azzopardi, newsdesk@spglobal.com

--Edited by Jason Lindquist, jason.lindquist@spglobal.com