According to the customs statistics released in China, the country imported 33,219 tonnes in material of molybdenum, being equivalent to 40.5 million pounds on Mo content base, in the first half of 2009.

A Reuters News report states that the demand for the minor metal, used as a strengthening and anti-corrosion agent in steel, should increase as low inventories get replenished, China turns net importer and consumers start to increase purchases.

On the supply side, limited growth of copper mines with molybdenum as a by-product and recent output reductions at both primary and by-product molybdenum mines following sharp 2008-2009 declines in global demand should help support prices in 2010 and beyond.