| China's removal of its export tax on molybdenum products from May 1 will overshadow term contract negotiations between Japanese steelmakers and overseas moly suppliers, industry sources said Thursday, April 23. Japanese moly term contracts typically run over a one-year period.
But for 2015, some consumers last year have asked to break up the annual contract into two six-month contracts as the launch of the Chilean Sierra Gorda mine in 2014 may impact the supply and demand picture. Japanese traders told Platts Thursday that they were told that first Sierra Gorda moly shipment will be in May-June. More than 140 mt/month of moly oxide in total are to be discussed for July-December contracts. The negotiations are expected to heat up in May.........................................Full Article: Source
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