Molybdenum Growth Opportunities in and outside China

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1 Molybdenum Growth Opportunities in and outside China Nicole Kinsman International Molybdenum Association June 8 th, 2011 Asian Stainless Steel Conference Shanghai, China International Molybdenum Association 4 Heathfield Terrace London W4 4JE United Kingdom Tel: Fax: info@imoa.info

2 2 MO SUPPLY AND DEMAND

3 Global Production and Use Production Use Mo in millions of lb Source: IMOA

4 Mo Use in China Mo use in millions of lb Source: IMOA,

5 Global Mo Production By Region Other,10% SouthAmerica,23% China,32% NorthAmerica,35% 5 Total 225,000 t (2010) Source: IMOA

6 Global Mo Use By Region (not including scrap) Other World, 7% OtherAsia,18% China,31% Americas,19% 6 Total 215,000 t (2010) Source: IMOA Europe,24%

7 7 MO FIRST USES

8 First Use of Molybdenum (incl. Mo in scrap) 8 Total approx. 212,000 t (2009) Source: SMR > 80% Alloying Element

9 9 MO IN STAINLESS STEELS Production

10 Molybdenum in Stainless Steel Molybdenumin Scrap,27% NewMolybdenum, 73% 10 Total approx. 54,470 t (2009) Source: SMR

11 Mo-grade Stainless Steel Production in 2009 as Percentage of All Stainless Steel Production World Average World Average 9% China* Asia EuroAfrica Americas 11 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% Data: ISSF, except for China* CSSC

Stainless Steel Production by Region in 2009 70% 65% 60%

12 Stainless Steel Production by Region in % 65% 60% 50% 47% 40% 40% 39% 30% 26% 20% 10% 9% 13% 10% 12 0% Americas EuroAfrica Asia China* All stainless steels Mo-containing stainless steel Data: ISSF, except for China* CSSC

13 13 MO IN STAINLESS STEELS Use

14 Molybdenum in Stainless Steel Use by Region Americas 16% China 29% Other Asia 17% Other World 18% Europe 20% 14 Data: SMR, Total (including scrap): approx. 54,000 metric tons

15 Molybdenum in Stainless Steel End Uses 2009 Power Generation 6% Mechanical Engineering 1% Transport 9% Cons. goods, electr., med equip. 1% Oil and gas 10% Building/Construc tion 21% Process Industries 52% 15 Data: SMR, Total (including scrap): approx. 54,000 metric tons

Molybdenum in Stainless Steel in China 2009

16 Molybdenum in Stainless Steel in China 2009 Oil and gas 4% Power Generation 4% Mechanical Engineering 1% Transport 7% cons. goods, electr., med equip. 0% Building/Constru ction 20% Process Industries 64% 16 Data: SMR, Total (including scrap): approx. 15,800 metric tons

17 Mo End Use Markets China and RoW in 2009 Process Industries 47% 63% Building/Construction 21% 20% Transport 7% 12% Power Generation 4% 11% Oil and gas 4% 7% 17 0% 10% 20% 30% 40% 50% 60% 70% Data: SMR Rest of World China

18 18 Chemical processing

19 Mo in Stainless Steel for Process Industries World Average Americas Other Asia Other World Europe China 19 0% 10% 20% 30% 40% 50% 60% 70% Data: SMR, total (including scrap) approx. 28,100 metric tons

20 20

21 Mo in Stainless Steel for Building/Construction World Average Americas Other Asia Other World Europe China 21 0% 5% 10% 15% 20% 25% 30% Data: SMR, total (including scrap) approx. 11,400 metric tons

22 22 Oil and gas production

23 Mo in Stainless Steel for Oil and Gas World Average Americas Other Asia Other World Europe China 23 0% 5% 10% 15% 20% 25% Data: SMR, total (including scrap) approx. 5,600 metric tons

24 24 FORECAST FOR MO IN STAINLESS STEELS

25 Growth of Mo in Stainless Steel by End Use 50,000 45, Metric tons of Mo contained 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 Process Industries Oil and Gas Building/Constru ction Power Generation Transport Data: SMR

26 Estimated Annual Growth Rate 2009 to 2019 for Mo in Stainless Steel 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% 26 Data: SMR China Rest of the world

27 Metric tons of additional Mo Additional Annual Mo in SS ,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2, Data: SMR

28 28 Building/Construction

29 No Mo Type 304 0% Mo 2% Mo Type 316 2% Mo 29

30 Auckland, New Zealand Sentinel building 445M2 (1.2% Mo) roof 30

31 Seoul, Korea Incheon Airport 446M roof (2% Mo) 31

32 32

33 Curitiba, Brazil Edificio Platinum 444 (2% Mo) facade 33

34 Brazil 444 (2% Mo) facades 34

35 Ferritic stainless steels in ABC Lower material cost Disadvantages compared to austenitics: Surface finish can be uneven Welding difficult Bending difficult May require more work to make it look good Projects around the world show that problems can be overcome Documentation on how to fabricate ferritics for ABC needed 35

38 Image credits Slide 18: ThyssenKrupp Stainless Slide 28: (fabricator), (photo) Slide 29: TMR Stainless Slide 20: Slide 32: Posco Slides 33 and 34: Nucleo Inox 38

@ SMR GmbH Steel & Metals Market Research Reutte, October 2013

@ SMR GmbH Steel & Metals Market Research Reutte, October 2013 This study was exclusively prepared for IMOA. It may not be copied, published or disclosed to third parties without the permission of SMR