As negotiations to renew contracts, which historically have
been long-term and at fixed prices, get under way, major
rhenium consumers are bracing for higher prices.
The current contracts?signed under the leadership of Terry
Adams, who acted as Molymet's European marketing agent for
molybdenum and rhenium from 1989 until his death in a car crash
in Sweden in 2008?were largely negotiated at below-market
prices of less than $1,000 a pound compared with current spot
prices of between $2,000 and $2,250 a pound, market sources
The latest Chilean export figures confirm the long-term
contracts' low prices, with some 16,600 kilograms (36,600
pounds), or more than 70 percent of the country's total rhenium
exports, priced under $2,000 per kg ($907 per pound) last year.
Some exports were even reported at prices as low as $1,215 per
kg ($551 per pound).