Molybdenum

Molybdenum is a silvery-white, hard, malleable, metallic element with the symbol Mo and atomic number 42. Molybdenum melts at about 2610 degrees Celsius and boils at about 4640 degrees Celsius. Swedish chemist Carl Wilhelm Scheele discovered molybdenum in 1778.

Molybdenum occurs in nature in the form of molybdenite and wulfenite. Contributing to the growth of plants, it is an important trace element in soils. Approximately 70% of the world supply of molybdenum is obtained as a by-product of copper mining. Molybdenum is chiefly used as an alloy to strengthen steel and resist corrosion. It is used for structural work, aircraft parts, and forged automobile parts because it withstands high temperatures and pressures and adds strength. Other uses include lubricants, a refractory metal in chemical applications, electron tubing, and a catalyst.

Prices – The US merchant price of molybdic oxide in 2001 fell to $2.37 per pound from $2.74 per pound in 2000. That was well below the 10-year average price of $3.84. There was an upward spike in prices in the first half of 1995 to a peak of $17.00 per pound in February 1995, which skewed the 10-year average price figure higher.

Supply – World production of molybdenum in 2001 fell –2.3% to 130,000 metric tons from 133,000 metric tons in 2000. The world’s largest producers of molybdenum are the US with 28.9% of world production, Chile with 25.4%, and China with 21.7%. Chile’s production has increased sharply in recent years and its 2001 production level of 33,000 metric tons was more than double that seen 10 years earlier.

US production of molybdenum concentrate in 2001 fell –8.1% to an 8-year low of 37,600 metric tons. US production of molybdenum primary products in 2001 fell –20.3% to 15,700 metric tons, with 14,900 metric tons of that production in molybdic oxide and 771 metric tons in molybdenum metal powder.

Demand – US consumption of molybdenum concentrate fell –1.5% to 33,300 metric tons in 2001 from 33,800 metric tons in 2000. US consumption of molybdenum concentrate has more than doubled over the last 10 years. US consumption of molybdenum primary products fell by 11.5% to 16,200 metric tons in 2001 from 18,300 metric tons in 2000.

Trade – US imports of molybdenum concentrate for consumption in 2001 fell –1.8% to 6,010 metric tons from 6,120 metric tons in 2000.