Molybdenum prices, $/mt last = 24892 1w: 0 (0%)
202020212022
Consensus (median)176001830019000
High300001990019000
Low155001780019000
Standard Deviation44687280
Count of Estimates751
History
Forecast
CARG Summary (Price)
RankN/S0*1*2*3*4*5*
Strong Gr.       
Growth       
Flat       
Decline       
Strong Decl.       
Forecast Distribution
Company plot
[Neutral]

I see upside potential for moly from demand recovery from oil and gas sector (demand still remains well below pre-2015 levels)

[Neutral]

I assume that current prices makes market balanced and I do not expect any significant movements up or down. On the one hand, I expect recovery in demand from stainless steel and also booming demand for moly chemicals, particularly in China. On the other hand, that will be compensated by supply growth from new copper by-product projects (Centinella, Cobre de Panama, Las Bambas, Tocquepala, Toromocho and Koktenkol) and the return to normal or planned production at existing producers.