In molybdenite processing, the molybdenite is first heated to a temperature of 700 °C (1,292 °F) and the sulfide is oxidized into molybdenum(VI) oxide by air: 2 MoS2 + 7 O2 → 2 MoO3 + 4 SO2 The oxidized ore is then either heated to 1,100 °C (2,010 °F) to sublimate the oxide, or leached with ammonia which reacts with the molybdenum(VI) oxide to form water-soluble molybdates: MoO3 + 2 NH4OH → (NH4)2(MoO4) + H2O
Copper, an impurity in molybdenite, is less soluble in ammonia. To completely remove it from the solution, it is precipitated with hydrogen sulfide. Pure molybdenum is produced by reduction of the oxide with hydrogen, while the molybdenum for steel production is reduced by the aluminothermic reaction with addition of iron to produce ferromolybdenum. A common form of ferromolybdenum contains 60% molybdenum.
Molybdenum has a value of approximately $30,000 per tonne as of August 2009. It maintained a price at or near $10,000 per tonne from 1997 through 2003, and reached, due to increased demand, a peak of $103,000 per tonne in June 2005. In 2008 the London Metal Exchange announced that molybdenum would be traded as a commodity on the exchange.
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