Shanghai: Molybdenum is a silvery-white metallic element that is commonly used as an alloying agent in the steel industry. It has a high melting point and excellent strength and corrosion resistance, making it an ideal material for use in high-stress applications.
The majority of molybdenum is produced as a byproduct of copper mining, although some mines are dedicated solely to molybdenum production. The top producers of molybdenum are China, the United States, Chile, Peru, and Canada.
Molybdenum has many industrial applications, with the steel industry being the largest consumer of the metal. It is used to make high-strength steel alloys, which are used in construction, machinery, and transportation. Molybdenum is also used in the manufacture of electrical contacts, filaments, and electrodes due to its high melting point and electrical conductivity.
In addition to its industrial uses, molybdenum has some medical applications. It is used in the treatment of certain types of cancer and in diagnostic imaging tests.
The price of molybdenum is influenced by several factors, including global supply and demand, production costs, and currency exchange rates. In recent years, the price of molybdenum has been relatively stable, with prices ranging between $10 and $15 per pound.
Overall, molybdenum is an important and versatile metal with a wide range of industrial applications. Its increasing production in China highlights the country’s growing role as a global producer of metals and highlights the importance of the industry in driving economic growth.
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