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Molybdenum demand outpaces supply, deficit set for 2027

Molybdenum demand rose 8.5% to 358.2 million lb in the first half, while supply fell 0.6%, creating a 22.6 million lb shortfall and driving prices up about 43% since Jan. 1 to $41.97 per lb.

Reported · Written up by our desk · Mining

Molybdenum is set for a sixth consecutive year of supply deficits in 2027, with BMO Capital Markets saying strong demand will collide with a limited pipeline of new production.

Mining.com reports that global molybdenum demand climbed 8.5% to 358.2 million lb in the first half, while supply slipped 0.6% to 335.6 million lb, leaving a 22.6 million lb shortfall based on International Molybdenum Association data cited by BMO.

The report also points to price strength, saying molybdenum has surged about 43% to $41.97 per lb since Jan. 1, according to Daily Metal Prices.

BMO said readily available inventories have been substantially depleted and that, with no major new sources of supply on the horizon, it expects the deficit to persist into 2027.

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