Molybdenum

Molybdenum is an essential metal used in the manufacture of steel where it adds strength, hardness and toughness as well as increases steel’s resistance to corrosion. Molybdenum is also growing in importance to the Petroleum industry where its unique properties are utilised for corrosion resistance in pipelines and as a catalyst to remove sulphur and other impurities from crude oil. Molybdenum also plays a key role in the manufacture of a range of chemicals including paints and plastics and its importance to the nuclear power, automotive and aerospace industries is growing.

Another exciting development for Molybdenum is its growing use in the production of clean energy. Molybdenum is being used in a new generation of solar panels that are revolutionising the solar industry due to their thinness, flexibility and lower cost. Molybdenum may also have a role to play in the “hydrogen economy” of the future with researchers in the USA and Switzerland developing molybdenum as a substitute for platinum electrodes as a more cost effective method of extracting hydrogen atoms from oxygen atoms in water to produce clean energy. The use of molybdenum is also growing in nano-technologies which could make computers smaller, faster and more efficient. Molybdenum is truly a future metal of significant importance.

The molybdenum market is relatively small but growing at 220,000tpa in 2010 but with its increasing importance to industry, worldwide shortages are predicted. Approximately 53% of world production is sourced from primary molybdenum mines with 47% of supply by-products from copper mines.

Molybdenum is priced at approximately US$36,000 per tonne being about four times that of copper at approximately US$8800 per tonne with silver at about US$38/oz.

For the latest prices please go to the London Metal Exchange website