Molybdenum
Molybdenum supply is expected to get tighter
By Staff
Purchasing
May 3, 2007
ADVERTISEMENT
Business Intelligence
Chips
Business Intelligence
More >>
An already tight molybdenum supply situation has gotten much worse recently, sending spot molybdenum prices above $30/lb in mid-April because of threats of export controls by China and the launch of new exchange traded fund (ETF) in Canada.
Beyond being used to strengthen steel used by the construction industry, molybdenum also is critically important to the energy drilling complex. According to Sprott Asset Management, a 5,000-foot oil well requires 50 tons of molybdenum-hardened steel to drill; a 15,000-foot well requires a whopping 1,100 tons.
ResourceInvestor.com suggests that one of the biggest reasons moving the molybdenum price is the launch of the Sprott Moly Fund in Canada run by Sprott Asset Management. The ETF is expected to invest up to $100 million in moly-related equities and physical metal.
Meanwhile, China, which supplies 20% of the world's molybdenum, wants to retain more of its metal production for domestic use—and plans to introduce a quota system for molybdenum exports. The quota system will only grant export permission to those firms with export volumes of over 3,000 metric tons and with registered capital of at least $13 million.
- Forums
- ASX - By Stock
- THR
- moly supply is expected to get tighter
moly supply is expected to get tighter
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add THR (ASX) to my watchlist
|
|||||
Last
1.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.493M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 204279 | 1.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.6¢ | 150000 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 204279 | 0.015 |
6 | 599249 | 0.014 |
4 | 1571499 | 0.013 |
1 | 500000 | 0.012 |
2 | 285454 | 0.011 |
Price($) | Vol. | No. |
---|---|---|
0.016 | 150000 | 2 |
0.017 | 178759 | 3 |
0.018 | 1700000 | 1 |
0.019 | 191522 | 3 |
0.021 | 20526 | 1 |
Last trade - 16.12pm 30/08/2024 (20 minute delay) ? |
Featured News
THR (ASX) Chart |
Day chart unavailable
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online