Study on molybdenum depth in nonferrous metals industry report
Molybdenum - Important Adding Element in Steel Industry molybdenum Mo, atomic number 42, with an average content of 0.00011% in the crust, is a silver-white rare metal. Molybdenum is mainly used in iron and steel industry, which can improve the strength, elastic limit, wear resistance and corrosion resistance of steel, accounting for about 80% of the total consumption of molybdenum. followed by molybdenum chemical industry, accounting for about 13% of the total consumption of molybdenum. Molybdenum is widely used in the fields of petroleum, chemical industry, natural gas, automobile, mechanical engineering, transportation, construction engineering, aviation military industry, consumer electronics and so on.
Supply end: High supply concentration, low output growth The global molybdenum reserves are highly concentrated, with China accounting for nearly 50% of reserves and 34.5% of output. According to statistics for USGS 2018 years, the global molybdenum reserves are about 17 million tons, of which nearly 50% are distributed in China, and 39% are owned by the United States, Chile and Peru. China, the United States and Chile are the three major producers of molybdenum metals, accounting for 73% of the world, of which China accounts for 34.5% of global production. Concentrated supply, the world's top 10 molybdenum producers CR10 accounted for as much as 69%. According to the International Molybdenum Industry Association and the data of the global large molybdenum producers we combed, the top ten molybdenum producers in the world accounted for 69% of the total global output in 2018, and the industry concentration was very high, with strong scale effect and industry competitiveness. global molybdenum production is expected to maintain a low annual growth rate of about 1% in 2019-2021. By combing the production capacity of the world's major molybdenum production enterprises, limited by environmental protection, grade decline, and short-term new mining production, the next three years the world's major molybdenum production enterprises output growth rate of about 1.1%, and the global molybdenum production growth rate is expected to remain at a low level of 1%. 2.1 Distribution of molybdenum resources and production the global concentration of molybdenum resources distribution is high. According to statistics for USGS 2018 years, the global molybdenum reserves are about 17 million tons, of which nearly 50% are distributed in China, while the United States, Chile and Peru together have 39% of the global molybdenum reserves, and the rest are scattered in other countries. As the world's most abundant molybdenum resources, China has 8.3 million tons of molybdenum reserves. Since 2011, China has discovered three 2 million of 2 million tons, such as Shapinggou, Anhui Province, which makes China's position as the world's largest molybdenum ore resource more stable.
The domestic molybdenum resources are mainly concentrated in Henan, Shaanxi and Jilin provinces, accounting for 56.7% of the national molybdenum resources reserves. In terms of regional distribution, molybdenum reserves in the central and southern regions accounted for 35.7% of the total reserves in China, ranking first. followed by 19.5% in the Northeast ,13.9% in the Northwest and 12% in North China, while only 4% in the Southwest. From the point of view of the distribution of provinces, the domestic molybdenum resources are mainly concentrated in Henan, Shaanxi and Jilin, and the three provinces have 56.7% of the total national molybdenum resources reserves, of which Henan is the most abundant, accounting for 30.1% of the domestic reserves, followed by Shaanxi and Jilin. China, the United States and Chile are the three major producers of molybdenum metals, accounting for 73% of the world. According to USGS statistics, the global molybdenum metal production in 2018 is 265400 tons, and the top three major producing countries are China, the United States and Chile, respectively. The total output of the three countries is 194100 tons, accounting for about 73.1% of the global output. of which China's molybdenum production is 91600 tons. accounting for 34.5% of global production. More than 80% of molybdenum production in China is concentrated in four provinces of Henan, Shaanxi, Heilongjiang and Inner Mongolia. According to Antaike data, the output of molybdenum concentrate (45% Mo) in the above four provinces in 2018 accounted for 83.7% of the total output of the whole country. Industry concentration continues to rise, with production from the top 10 molybdenum producers worldwide rising to 69% in 2018 from 63% in 2014. Since 2013, the price of molybdenum concentrate has been depressed, and some small and medium-sized enterprises can not make profits or even continue to lose money, which directly leads to the withdrawal of some enterprises' production capacity and the increasing concentration of industry. According to Antaike, the world's top 10 molybdenum producers accounted for about 63 percent of production in 2014. And according to the production capacity of the world's leading molybdenum producers and IMOA data, the proportion of the world's top 10 molybdenum producers in 2018 has reached 69%, and the further increase of industry concentration will greatly enhance the scale effect of the industry leader and the voice of the industry. 2.2 Output growth of major molybdenum companies is expected to be 1.1 per cent, with global growth of 1 per cent The price of molybdenum concentrate has been depressed for a long time since 2013, and by 2015, the price of 45% molybdenum concentrate has fallen to less than 700 yuan / ton, falling below the cost line of almost all production enterprises. The long-term price downturn and the loss of enterprises directly lead to the withdrawal of some enterprises' production capacity. At the same time, the continued downturn in prices has also led to the domestic tungsten-molybdenum mining and smelting enterprises fixed assets investment completed since 2014 has continued to fall, the future of new capacity investment is bound to reduce.
It is expected that the output of major global molybdenum producers will continue to grow slightly in the next three years, with an average annual compound growth rate of 1.1 per cent. Owing to environmental protection, declining grade and limited production of new mines in the short term, the growth rate of production of major global molybdenum producers will be less than 1 per cent in the next three years. The production of new Chuquicamata copper mines under Chile's Codelco is expected to start production in 2019, but short-term production is unlikely to return to pre-2017 levels. The expansion of molybdenum production under the Mexican Group's Toquepala mine in 2018 has been slow, with a small increase in the production of Ruyang molybdenum in the domestic Jinduicheng molybdenum industry. We expect the world's major molybdenum producers to maintain a modest increase in output over the next three years, with an annual compound growth rate of 1.1 per cent. Global molybdenum production is expected to grow at about 1% over the next three years. according to our combing of the world's major molybdenum production enterprises, we expect the annual compound growth rate of molybdenum production in china, north america and south america to be 0.8%,3% and 1% in the next three years. the output growth rate of other small mines is further reduced, the growth rate is -5%. we expect the global molybdenum production to grow at an average annual compound growth rate of about 1% in 2019-2021.
