Molybdenum is an important strategic resource. The downstream application of molybdenum involves multiple fields such as steel, military industry, petrochemical, etc. Molybdenum and its alloys can significantly improve the high-temperature strength, wear resistance, and corrosion resistance of products. 

Global molybdenum resources are mainly distributed in China, the United States, Peru, and Chile. According to USGS data statistics, the four major countries rich in resources control about 92% of global molybdenum resources. China is the largest molybdenum producer in the world, accounting for 44% of global production in 2023. At the same time, because about 79% of molybdenum consumption is concentrated in the steel industry, and more than half of the world’s steel production capacity comes from China, China is also the largest molybdenum consumer, accounting for 45% of global consumption in 2023.