About Moly

Molybdenum is used primarily as an alloying agent to enhance the strength, toughness and corrosion resistance of steel. It also has unique chemical and lubricating qualities. Current market price for molybdenum is US$34 per pound. In its pure metal form, molybdenum is silvery white and very hard, though it is somewhat more ductile than tungsten. It has a melting point of 2623°C, and only tantalum, osmium, rhenium, and tungsten have higher melting points.

Sixty percent of molybdenum consumption is used for stainless steels, super alloys or lower alloy steel. Type 316 stainless steel contains 3 to 4 percent molybdenum. This steel is used for corrosion resistant applications such as architecture and marine costal environments. The most corrosion resistant stainless steels contain 6 to 7.3 percent molybdenum. These grade are used for applications such as offshore piping and critical components in nuclear power plants.

Worldwide molybdenum consumption in 2006 was 422 million lbs giving the market a value of over $14 billion. The growth rate over the last 50 years has averaged at approximately 4%. This has grown over the last 5 years to 5.6% with growth in 2006 reaching 5.8%.

The world's largest producers of molybdenum materials are the United States, Canada, Chile, Russia, and China.

Though molybdenum is found in such minerals as wulfenite (PbMoO4) and powellite (CaMoO4), the main commercial source of molybdenum is molybdenite (MoS2). Molybdenum is mined as a principal ore, and is also recovered as a byproduct of copper and tungsten mining. Large mining areas in Colorado and in British Columbia yield molybdenite while the Chuquicamata mines in northern Chile produce molybdenum as a byproduct of copper mining. The Knaben mine in southern Norway was opened in 1885, making it the first molybdenum mine. It remained open until 1973.