Molybdenum
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[edit] Molybdenum
Molybdenum, is a Group 6 chemical element with the symbol "Mo". It has the sixth-highest melting point of any element, and for this reason it is often used in high-strength steel alloys. Molybdenum is found in trace amounts in plants and animals, although excess molybdenum can be toxic in some animals.
Molybdenum is mined as a sulfide ore, either as a principal product or as a byproduct of copper mining (about 60%). It is roasted to convert the sulfide to an oxide and is subsequently used by the steel industry. Molybdenum is used in selected grades of stainless and alloy steel. Unlike the other metals considered in this presentation, the United States accounts for a major share of world molybdenum production.[1]
[edit] General uses
Molybdenum metal is used in
- Alloying agent – contributing hardenability, toughness to quenched/tempered steels. It also improves the strength of steels at high temperatures (red-hardness).
- In nickel-based alloys (such as Hastelloys®) and stainless steels it imparts heat-resistance and corrosion-resistance to chemical solutions.
- Electrodes for electrically heated glass furnaces and forehearths.
- Nuclear energy applications, as missile and aircraft parts (where high temperature resistance is vital).
- As a catalyst in the refining of petroleum.
- As a filament material in electronic/electrical applications.
- As a support members in radio and light bulbs.
- Arc resistant electric contacts.
- Thermocouple sheaths
- Flame- and corrosion-resistant coatings for other metals (generally arc deposited for metallising).[2]
[edit] Pricing structure
Molybdenum prices have historically hovered near the $3–$4/lb mark, with short periods of high prices in 1979 (second energy crisis) and 1995 (a perceived supply shortage). The primary Climax Mine tended to be the swing producer until its second closure in 1995. The prices are expected to remain at historically high levels throughout the forecast period and forecast molybdenum oxide prices of $30/lb in 2007, $35/lb in 2008, $25/lb in 2009, $15/lb in 2010 and $12/lb in 2011. The long-term price is forecasted at $10/lb, reflecting the upper percentile of total costs for primary producers in 2011 and beyond.
[3]
[edit] Current consumption trends
- U.S. mine output of molybdenum in concentrate in 2007 decreased slightly from that of 2006. U.S. imports for consumption increased an estimated 17% from those of 2006, while the U.S. exports increased only about 2% from those of 2006. Domestic roasters operated at full production levels in 2006 and 2007. U.S. reported consumption increased 5% from that of 2006 while apparent consumption was about level, owing to reduced destocking offsetting increased imports. Mine capacity utilization in 2007 was about 80%.
- China’s high level of steel production and consumption continued to generate strong internal consumption of molybdenum. This consumption, coupled with limited production in the Huludao area of Liaoning Province, led to reduced Chinese exports in 2006 and 2007, and continued to support historically high molybdenum prices. Most byproduct and primary molybdenum mines in the United States maintained high production levels in 2007. Production capacity at the Henderson Mine, Empire, CO, was expanded to about 18,100 tons per year of contained molybdenum in 2006 and mine production approached that level in 2007. The Ashdown Mine, near Denio, NV, started molybdenum operations in 2007.[4]
[edit] World Demand/Supply
[edit] Price forecasts
Molybdenum is forecast to continue to see strong demand growth in the years ahead, and prices will increase steadily to reflect that.
According to an Analyst, world moly demand will grow 5.8% this year, due in part to the increasing demand for cleaner fuels. It is advised that airspace superalloy consumption will increase moly demand as the global airline passenger rate is forecast to grow at an average rate of 5.6% in 2009. [6]
[edit] Major producers
The world's largest producers of molybdenum materials are the United States, Canada, Chile, Russia, and China. Among 13 molybdenum-producing countries, the 3 leading producers (United States, Chile, and China) account for about 25% each. [7]
[edit] External References
- ↑ http://pubs.usgs.gov/of/2007/1257/ofr2007-1257.pdf
- ↑ http://www.azom.com/details.asp?ArticleID=616
- ↑ http://www.stockhouse.com/bullboards/viewmessage.asp?no=17077532&tableid=0
- ↑ http://minerals.usgs.gov/minerals/pubs/commodity/molybdenum/mcs-2008-molyb.pdf
- ↑ http://silverstockreport.com/email/molymania.html
- ↑ http://www.prlog.org/10050391-bard-ventures-reports-another-big-hole.html
- ↑ http://pubs.usgs.gov/of/2007/1257/ofr2007-1257.pdf
