First traded on the LME: 2010
World production: 269,100 tonnes
Molybdenum, often referred to as ‘moly’, was first discovered in 1788. Molybdenum is a silvery metal with the sixth-highest melting point of any element. This ability to withstand extremely high temperatures and its high resistance to corrosion means it is widely used as an alloying agent in stainless steel, and also in the manufacture of aircraft parts and industrial motors.
Molybdenum is commonly a by-product of copper mining and is sourced in Chile, Mexico, Canada, Central Africa, USA and China.
World molybdenum production 2011
Source: WBMS www.world-bureau.com
Industrial consumption 2011
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Source: CRU www.crugroup.com