China Molybdenum’s H1 moly output down 8% on year

Molybdenum output during the first half of this year at Shanghai- and Hongkong-listed China Molybdenum Co (CMOC) reached 7,302 tonnes in 100% moly content, down by 8.2% from the same period last year amid the degradation in its reserves, according to the company’s semi-annual report released on August 28.

CMOC’s H1 molybdenum output was in line with its target production of 14,500-16,000 tonnes for the whole year of 2019, as set out in its 2018 annual report, Mysteel Global notes. Over January-June, the company’s molybdenum sales in 100% moly content declined accordingly to reach 7,913 tonnes, slipping by 15% year on year, the