Molybdenum - a light-gray metal used in steel alloys, as a component of heat-resistant and corrosion-resistant alloys. Molybdenum is used in the production of molybdenum-containing nonmetallurgical and high-tech metallurgical products, which improves their heat resistance, wear resistance, corrosion resistance and ability to withstand high pressure. Stainless steel sector is gradually switching to production of special grades of metal with higher molybdenum content. The use of molybdenum as a catalyst for purification of oil is growing, which is due to the growing demand for low-sulfur gasoline.
Large market for molybdenum is nuclear power engineering, where a transition is being made to production of more durable (made of molybdenum steel) pipes for the refrigerants and for new reactors. Molybdenum alloys are used for manufacturing of aerospace tools and components.
Economics of molybdenum production is increasingly being viewed "by itself" and not as a byproduct. This will lead to an increase in molybdenum business related securities, as well as investors’ interest in the field. Chinese manufacturers are increasingly inclined to produce value added products; the country took a steady trend toward urbanization, investment needs are enormous. The demand for molybdenum in the Chinese market can provide a base for growth in prices in the future.
The global production of molybdenum is about 220 thous tons of metal per annum.
Armenian mining companies produced 8.5 thous tons of molybdenum concentrate in 2010. Armenian molybdenum concentrate is processed mainly in local enterprises. 300 tons of molybdenum concentrate and 469 tons of metal and molybdenum scrap were exported from Armenia in 2010.