Medinah Minerals (MDMN)

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to learn a bit more about moly....did I say only importent for oil industrie

@mariner78:jeap,I think so to,it is a bit boaring right now to watsch the PPS....hopefully soon it makes more fun

SeeYa
me

18 Feb 2011 - Molybdenum prospects to soar on huge energy

LONDON (Scrap Monster): Molybdenum, a by-product of copper mining with the ability to withstand extreme temperature and high resistance to corrosion, is grappling with low volumes at London Metals Exchange (LME) as its first anniversary of trading approaches.

LME started futures trading for Molybdenum on 22 February 2010. Even at the beginning stage of its trade, the prospects for molybdenum are estimated to be high as such metals could bring transparency to opaque markets.

Prices for molybdenum on the LME have risen since the start of the year from approximately $37,200 per tonne over $39,600 per tonne, the 15 month seller contacts are at $40,300 per tonne.

Molybdenum futures trading volumes in January totaled 46 lots or 276 tonnes at LME.

Analysts’ opinion is that Molybdenum is expected to fare better results than plastics contracts, which LME launched in 2005 and scrapped last year for failing to attract enough trading activity.

China's resource-management policy is a major point of contention in global trade. It is the world's top producer of molybdenum, and it has taken steps to limit exports in a number of materials, often in a bid to attract more manufacturing to China.

Meanwhile Taseko Mines (TKO.TO) has approved a plan to expand its output capacity at the Gibraltar copper-molybdenum mine in British Columbia; its annual molybdenum output will rise by over 1 million pounds a year, following the expansion.

Molibdenos y Metales SA (MOLYMET CC), world’s largest molybdenum processor gained 1.2 percent to 11,417 pesos in the beginning of this month, rallied along with industrial metal prices as expanding manufacturing in China added to signs of demand growth.

Molybdenum’s unique ability to reduce corrosion and suitability for high heat applications make molybdenum essential in energy projects around the world from nuclear power to renewable energy projects.

Every new nuclear reactor, as well as the modernization of current nuclear power plants, needs approximately 400,000 pounds of molybdenum for the reactors and piping in the power plants. In China alone there are 100 planned nuclear power plants in the works over the next few years. That’s 40 million pounds of molybdenum needed for Chinese nuclear energy alone.

In US alone 24 new nuclear reactors are under planning according to The World Nuclear Association. If these plants make it through the permitting process the molybdenum market will see a huge rise in demand, as it may need 400,000 pounds of molybdenum for each power plant.

The demand for molybdenum doesn’t end with nuclear power stations, the metal is also indispensible in solar and wind power projects as towers used for wind turbines, especially in off shore wind power and CIGS Solar panels use a molybdenum base sheet on which to apply the photovoltaic material.

The use of molybdenum in nanotechnology can also significantly increase the efficiency of coal power plants as well as dramatically increase computing speed of microprocessors.

According to CPM forecast, molybdenum will average $21.75 per pound ($47,850 per tonne) in 2011 on continued strong demand and looming supply constraints. At the same time, many analysts opines that the added demand from energy projects on top of the rebounding global economy will boost molybdenum in coming years.

found: http://www.scrapmonster.com/news/molybdenum-prospects-to-soa…