Molybdenum (Mo) is a critical alloying element, primarily used in iron and steel production to enhance strength, hardenability, weldability, toughness, high-temperature performance, and corrosion resistance. Its unique properties make it indispensable across a range of industrial applications, from energy infrastructure to advanced manufacturing.
Global molybdenum reserves are highly concentrated, with five countries accounting for the majority of in-situ resources. China dominates the global resource base, with an estimated 17 million pounds of Mo—approximately 50% of total global reserves—highlighting the strategic importance of Chinese supply in the global market.
Over the past decade, global molybdenum mine supply has experienced notable fluctuations. Between 2016 and 2020, production outside China (ROW) increased modestly in response to gradually strengthening demand, while Chinese output declined due to tighter environmental regulations and enforcement. From 2021 onwards, however, the commissioning of new co- and by-product molybdenum operations in China drove a recovery in domestic supply, contributing to a broader increase in global mine output through 2023–2025.
Looking ahead, molybdenum demand is expected to enter a phase of structural growth, driven by the global energy transition, the expansion of high-end manufacturing, and increasing requirements from the defence sector. These trends are set to reinforce molybdenum’s role as a strategically important material in both industrial and geopolitical contexts.
CM Group has been actively analysing China’s molybdenum industry since 2007, when the country began emerging as a key supplier to global markets. Our research spans the full value chain—from ore and concentrate through molybdenum oxide (TMo), ferro-molybdenum (FeMo), and downstream chemical products. We maintain continuous monitoring of market developments and close engagement with leading producers across each segment, enabling us to deliver timely, data-driven insights.
CM also periodically publishes updated editions of its flagship Ten-Year Outlook of China’s Molybdenum Industry, providing in-depth analysis of supply, demand, pricing dynamics, and long-term market outlook.
