China holds 22% of world's molybdenum

According to Luoyang, Henan Province-based Chinese molybdenum producer China Molybdenum Co., Ltd, overall molybdenum inventory in China now exceeds 45,000 mt, accounting for 22 percent of the world's total molybdenum inventory.

According to Chinese customs data, China became a net importer of molybdenum in 2009, with its total exports declining by 66 percent year on year to 8,304 mt while imports rose to 35,307 mt, 9.5 times the import volume in 2008.