Production of molybdenum concentrate in 2003 was 67,858 t. Consumption was estimated at 12,000 t to 13,000 t, a 10% increase from 2002. The value of imports and exports are estimated at US$576.2 million in 2003, of which imports were valued at US$56 million (7.6% more in 2002) nad exports US$520 million (45% higher than 2002).

China possesses identified resources of 8.6 Mt of molybdenum. Three of the six largest molybdenum mines in the world are located in China - Luanchuan in Hennan provinces with contained reserves of 1.3 Mt, Daheishan in Jilin Province (1.1 Mt) and Jinduicheng in Shanxi Province (970,000 t). Daheishan was established in the 1980s and even though it has abundant reserves it has been on the verge of bankruptcy for a number of reasons. It was reorganised in June 2002, and Jilin Nickel Daheishan Ltd was established.