Molybdenum hit record high in February

Molybdenum prices continue to rise and at record high in February 2023. Pure molybdenum is more than $100,000 per tonne.

Mines have been cutting back on molybdenum production for years and at the same time, the quality of the mined ores has declined sharply. According to analysts, it is currently foreseeable that the available quantity of molybdenum will not be able to cover demand until at least 2025. A shortfall of at least 84,000 metric tonnes is expected in the next three years. At the same time, the producing countries, above all China, can no longer keep up with production.

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