Moly heads for 6th straight deficit, record prices: BMO
BMO Capital Markets says molybdenum is on course for a sixth consecutive year of supply deficit in 2027, with no new projects available to lift output in the short term. Global demand rose in the first half while supply slipped, leaving a shortfall, according to International Molybdenum Association data cited by the bank. Prices have risen about 43% since the start of the year, and BMO expects record highs in the coming year.
Why it matters: The projected deficit and China's February 2025 export restrictions on molybdenum place the metal within the briefing's critical-minerals and export-control theme, where concentrated supply and limited substitution shape industrial and defence procurement.