The growth rate of molybdenum mine production shows a continuous growth rate of 2.9% per annum compared to 10 years ago.

Molybdenum is mainly used to lighten the weight of steel used for aircraft and automobiles, to increase

the strength of products that have to withstand high pressure, such as artillery and gun barrels, and for railroad rails. It is increasingly in demand.

As the demand increases, the supply shortage of molybdenum will continue in the future. Experts emphasize that new mines with molybdenum as the main mineral need be urgently developed.

Although it is a mineral used for the secondary material rather than primary material, without molybdenum, large and strong structures in our lives, such as high-rise buildings and railways, would not exist. Since molybdenum is easy to slide and has a very low coefficient of friction, it is also used as an additive in automobile engine oil. In addition, it is used for paints, pigment, reagent, catalysts, among other products, and as an additive in the electrical and electronic industry.

Given the current supply shortage, the price of molybdenum-based products is expected to maintain an upward trend in the future as a result of rising raw material prices and increasing demand for steel. Demand for related products is also expected to continue to increase.