MoO3 spot price reached near $19 per pound in April after surge since the end of March from $7.35 in the beginning of the year. The price experienced up and down at averaged less than $13.50 in May, at $18 in June, at averaged more than $14.50 in July and at more than $18.50 in the beginning of August. The recent price was $14-15 compared with averaged $5.25 in 2003.

Japan depends more than 90% of molybdenum consumption on import, mainly from China. China, which supplies around a third of around 300 million pound of word demand, is losing export capacity under strong domestic demand. Japanese trading firm and other sources said, China is said to consider molybdenum export restriction by quota or export license system, which could have major impact on world supply.

MoO3 sport market price increased to more than 5 times from $3.51 per pound of purity in the beginning of 2003 under strong demand. One dollar of higher molybdenum price represents $22 per tonne of higher cost for steel containing 1% of molybdenum. Recent higher molybdenum price will increase cost of stainless and special steel making when Japanese makers have long-term contract to secure molybdenum requirement, in which purchase price is changed every month based on spot market price.