It is reported that the total quantity of molybdenum in molybdenum concentrate produced by 7 major molybdenum mining companies of the western world in January to March quarter of 2009 came to 55.90 million pounds, down by 20% YoY as compared with that of 69.29 million pounds in the same quarter of 2008.

According to the contents in settlements of accounts for January to March quarter of 2009 released by these seven companies, the quantities of molybdenum in concentrate produced by them in the quarter were as per the table attached hereto. There is a strong view in the market that the total quantity of molybdenum in concentrate to be consumed in the western market for the calendar year of 2009 is anticipated to decrease by 30% compared to that for the preceding year of 2008, but a scale of molybdenum production at these mining companies is still not prepared yet to cope with this decrease of molybdenum consumption in 2009.

According to an information from experts well experienced in China, the total quantity of molybdenum imported by China in January to March quarter of 2009, including the cargoes as speculated, is supposed to have reached an overwhelmingly larger scale than that recorded in the customs statistics.

(Sourced from www.texreport.co.jp)