Asian Metal News
JDC Molybdenum (Jinduicheng), the second largest molybdenum miner in Henan suspended all mining activities on 11th December, and a schedule for resumption of production is yet to be announced.
According to a company representative, the company was forced to halt molybdenum mining last Friday due to environmental restrictions. ‘We aimed to produced 724 t (in metal) of molybdenum in December, but monthly output is now estimated to drop to 200 t (in metal). We produced 1.2 kt of molybdenum concentrate in November – converting to 640 t of molybdenum in metal’. Industry commentators forecast molybdenum prices to rise over the short term on tightening supply as most local mines are expected to be under suspension through to end-December in Henan due to environmental issues.
Located at Ruyang Henan, JDC is designed with 27 ktpy of molybdenum concentrate capacity.
Mainstream molybdenum concentrates (45% min) transaction prices currently stand at RMB1,430~1,450/MTU by cash, holding steady from last week.
