Teck Resources visits Asian Metal

On the morning of May 3rd, Lei Xiaoli, an analyst from Teck Resources Limited Shanghai Branch, visited Asian Metal and communicated with Maggie Li, the molybdenum analyst from minor metal department of Asian Metal, about the molybdenum raw material market and the downstream application in China, Asia-Pacific, European and American markets.

Firstly, since the price increase of non-ferrous metal driven by the price hike of ferrous metal in the fourth quarter of 2016, the domestic and foreign metal industry has seen a new round of price rebound. Meanwhile, due to stricter environmental inspection in China since the beginning of 2017, mining costs of Chinese miners have increased, resulting in limited output for molybdenum concentrate. Influenced by strikes of workers in copper mines of Chile, the supply for molybdenum raw material has been continuously tight in the international market, stimulating molybdenum prices to pick up in both home and abroad. Maggie Li and Lei Xiaoli exchanged views in the future price trend and changes of supply and demand in the spot market, expecting that molybdenum market will be better and better in the first half of 2017 with demand from downstream steel mills to be stable.

As the largest diversified company engaging in mining, beneficiation and metallurgy, Teck Resources is a leading producer for copper, steelmaking coal, zinc, molybdenum and special metals and has made many profits from the development of oil sand. The headquarter of the company is located in Vancouver of Canada and has 13 mines in Canada, USA, Chile and Peru and owns special technologies in exploration, development, metallurgy, refining, safety, environmental protection, products management, recycling, investigation and research and other fields related to mining activities. They are active in the exploration of energy resources in America, Asia-Pacific area, Europe and Africa now.