China, which controls much of the industrial metal’s performance via their ravenous demand, will likely exhibit a strong moly need over the coming years. Hardy Mohrbacher, a metallurgical engineer, steel expert and consultant to the global steel business, said that China was virtually locked-in to a host of giant projects that will need steels with molybdenum content. “There is no way around it,” said Mohrbacher. “What is driving China are these big infrastructure projects, and they have to be done in order to keep general industrialization of China sustainable. These large scale projects need high quality steels. Corrosion resistance and buckling strength are demanded in the oil and gas industry,” he said. Mohrbacher estimates China steel demand at between 540 million and 580 million tonnes in 2010. He said molybdenum consumption could rise from about 14,298 tonnes in 2007 to at least 16,307 tonnes in 2010, according to conservative estimates.

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