Oil recovery spurs demand for molybdenum

Roskill analyst Olivier Masson discusses the supply and consumption of molybdenum, noting that supply rose by 14% in 2017 – recovering from two consecutive years of decline. Overall demand for the metal is highly linked with developments in the oil & gas industry, thanks to its use in refining and molybdenum-bearing steels used in oil drilling. Supply has not kept pace with demand in H1 2018, leading to a tighter marker balance and rising prices.