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The price of molybdenum varies according to several factors, such as the type of molybdenum product. Here are the various molybdenum types and their average prices.
Molybdenum Powder
Molybdenum powder is produced through a process called molybdic oxide reduction. The oxide is reduced to powder using hydrogen gas. The resultant powder is fine and highly pure. The powder form of molybdenum is sold and used for multiple purposes. Molybdenum powder costs around $25 per kilogram.
Molybdenum Bars
Molybdenum bars are solid and semi-fabricated product forms of molybdenum metal. The bars are used in multiple applications. They range from industrial to military uses. Molybdenum bars cost approximately $100 per kilogram, hence the high price due to high demand.
Molybdenum Rods
Molybdenum rods are similar to bars but have defined diameters and lengths. They are mainly used in electrical contacts due to their resistance to high temperatures. The rods also find application in manufacturing molybdenum filament light bulbs. Molybdenum rods cost around $300 per kilogram.
Molybdenum Sheets
Molybdenum sheets are classified as thin, flat pieces of molybdenum metal. They are produced by rolling or pressing molybdenum blocks. The sheets are widely used in the aerospace and electronics industry. In these industries, the demand is mainly based on their ability to withstand extreme temperatures and corrosion. Molybdenum sheets cost approximately $200 per kilogram.
Molybdenum Wire
Molybdenum wire is a filament made from molybdenum metal. The wires are used in light bulb production. They also have industrial uses, such as making heat electrodes in glass production. Molybdenum wires average at $300 per kilogram.
Molybdenum Rounds
Molybdenum rounds are circular molybdenum bars with a diameter of 1 inch or less and length of 10 inches or more. Molybdenum rounds are used to make custom tooling, machine parts, and industrial components. Molybdenum rounds cost around $200 per kilogram.
Global Supply and Demand
The price of any metal product, such as molybdenum, is directly affected by global supply and demand. When the demand for molybdenum increases, prices go up. Conversely, when there is an oversupply of the metal, prices drop. The demand for molybdenum is high because the metal is used for industries ranging from steel manufacturing to aerospace.
Quality and Purity
Molybdenum quality and purity play a big role in determining its price. High-quality molybdenum with better than 99.9% purity usually costs more than low-quality molybdenum. This is because high-purity molybdenum is required for critical applications like aerospace and electronics and molybdenum electrodes. .
Production Costs
The cost of mining and refining molybdenum is a determinant of molybdenum price. If the production and extraction costs are high, molybdenum will be pricey and vice versa. Molybdenum is extracted from molybdenum-containing ores, such as molybdenite and rheniite. The ores are then crushed, milled, and subjected to chemical processes like flotation to separate molybdenum from other metals. This is followed by roasting, where molybdic oxide is extracted. The chemical and energy-intensive nature of the processes determines the price.
Geopolitical Factors
Political stability is an obvious determinant of the molybdenum price. Geopolitical issues, such as instability in key molybdenum-producing countries like China, can adversely affect prices. This is because conflict and political instability may cause disruption to molybdenum mining and exporting activities. This leads to decreased supply and increased prices. Trade policies also affect the molybdenum prices. Restrictive trade policies, such as high tariffs, usually increase the price of molybdenum.
Exchange Rates
Since molybdenum is traded globally, the metal's price is affected by currency fluctuations. For instance, the weakening of the U.S dollar against other currencies increases the price of molybdenum for international buyers. Therefore, if molybdenum is in the U.S and the dollar is weak, then the country will have to pay higher prices for the metal.
Steel Alloys
The biggest use of molybdenum is in the manufacture of steel alloys. Molybdenum, when used in steel, increases the strength, toughness, and corrosion resistance of the steel. This makes it ideal for use in heavy-duty industrial applications. Therefore, molybdenum steel alloy enhances the performance of tools, machinery, and infrastructure components in construction and mining. For buyers who want molybdenum steel alloys, they must first consider the purity and form of molybdenum to get the desired result. Also, the quantity used has to be dependent on the alloy composition.
Aerospace Components
Molybdenum is highly resistant to extreme temperatures, which makes it ideal for use in rocket engines and other high-stress components in the aerospace industry. Therefore, molybdenum's ability to retain strength and stability under such temperatures makes it a key material for aerospace engineering. This commercial application value is huge because, with space exploration increasing, the demand for molybdenum will also increase.
Chemical Equipment
Molybdenum has an extremely high resistance to chemical corrosion and acidic substances. This makes it ideal for use in chemical processing equipment, such as reactors and pipes. Molybdenum's ability to withstand harsh chemical environments significantly increases the lifespan and reliability of such equipment. Thus, Molybdenum is crucial in industries like oil and gas, where equipment durability has a direct implication on operational costs. This application means Molybdenum is in constant demand, keeps driving its price up, and is essential for chemical processing.
Electronics
Molybdenum is used to make electrical contacts, heat shields, and thin films in the electronics industry. Molybdenum wafers and thin films are key materials in semiconductor manufacturing, where they are used as an insulator in order to keep silicon from oxidizing. As electronic devices become more complex and prevalent, the demand for Molybdenum in the semiconductor manufacturing process increases, hence increasing its value. The metal's outstanding electrical conductivity coupled with its ability to withstand high temperatures makes it extremely vital for the electronics industry. Any failure in the industry will lead to a collapse of the entire electronic industry.
Tungsten Replacement
Molybdenum, because of its comparable properties, can be used instead of tungsten in several applications like lighting filaments and vacuum tubes. While molybdenum is less dense than tungsten, it is far more cost-effective and still capable of withstanding high temperatures and keeping the light fixture working unobstructed. This attribute makes molybdenum an attractive substitute for industries that require tungsten but have constrained resources.
Market fluctuations
General economic trends, such as the state of the industry and overall demand for molybdenum-containing products, can result in fluctuations in the price. When the economy is doing well, industries like construction and mining increase their demand for molybdenum. This increases the price of the metal. Conversely, when the economy is bad, the demand decreases, resulting in a decrease in price.
Seasonal Demand
There is seasonal demand for molybdenum, which affects its price. For instance, in winter and for the entire year, the demand for molybdenum increases in preparation by miners for their work. This increases the price. By summer, the demand decreases, which leads to a decrease in molybdenum price.
Speculation
Like any other commodity, investors can invest in molybdenum and create a market for the metal. This will lead to an increase in the price. When the buyers think that the demand will increase or that there will be a shortage of molybdenum, then they will buy more. This will cause the price to increase. Similarly, when they are convinced that there is an oversupply, they stop buying. This lowers the price.
Substitutes
With molybdenum being used in the chemical and electrical industry, any development of a better substitute will decrease its demand, thus decreasing its price. Conversely, if the substitute is dangerous to health or inefficient, then the demand for molybdenum will increase, resulting in increase in its price by extension.
A1 – Molybdenum is used in steel industries and is usually added to plants for fertilization. Therefore, farmers check for signs of molybdenum deficiency in plants. The signs include stunted growth, yellowing of leaves, and poor crop yield. These signs are effects of molybdenum deficiency in plants. Farmers will either stop using molybdenum or use alternatives. This will reduce the demand for molybdenum.
A2 – Molybdenum has an average density of about 10.2 grams per cubic centimeters. It is a heavy metal. Hence, even though the metal is less abundant than gold, it can be quite pricy.
A3 – Molybdenum metal and molybdenum rods can be expensive depending on the form, quality, and market demand. Molybdenum is highly valuable in industries that require high-temperature applications. This is because of the corrosion and temperature resistance properties of the metal.
A4 – Molybdenum has a greater density at 10.2 grams per cubic centimeter than tantalum, which has a density of 16.6 grams per cubic centimeter. Thus, Molybdenum is heavier than most metals but lighter than molybdenum.
A5 – No, Molybdenum is not magnetic. This is because, even though Molybdenum can attract non-magnetic objects, it cannot attract magnets. Therefore, Molybdenum was formerly thought to be weakly ferromagnetic. Recent studies have shown that Molybdenum is non-magnetic.
