Relevance of the work is caused by the need to study the problems of the Russian molybdenum industry. Objective: to study the dynamics of commodity flows (production, import, export, consumption) of molybdenum products (molybdenum concentrates and ferromolybdenum), their prices (world, Russian imports and exports) and the share of Russian molybdenum products in the world economy; to develop recommendations for optimizing the turnover of molybdenum products. Research methods: statistical, graphical, logical. As a result of the analysis of the dynamics in commodity flows of molybdenum products and prices for them, the results of the activities of mining and processing enterprises, significant changes in the state of the Russian molybdenum industry are established. Until 2005, the Russian molybdenum industry was in a state of crisis, exporting a significant part of the molybdenum concentrate and importing most of the consumed ferromolybdenum. As a result of a sharp increase in 2004–2008 in the world prices for almost all molybdenum products the investments into projects in the molybdenum industryhave become attractive. New ferromolybdenum plants were built (Sorsky and Zhirekensky), preparation of projects for molybdenum extraction at new fields (Agaskyrskoye and Burdainskoye molybdenum fields, Ak-Sug copper-porphyry, Yuzhno-Shameyskoye tungsten-molybdenum), and significant export flow of ferromolybdenum appeared. The decline in global prices for molybdenum products since 2009 has led to a pullback in activity in the Russian molybdenum industry, but this is not critical. The extraction of molybdenum raw materials ceased to be export-oriented, and with the appearance of a deficit in national consumption, formal import dependence (20–36% of consumption) also appeared. There is a need to increase national production (extraction) of molybdenum ores and concentrates. A fundamentally new technological flow of transit import-export trade was formed, when molybdenum concentrate is imported, and the ferromolybdenum produced from it is sent for export. To improve the situation in the Russian molybdenum industry, it is recommended to: accelerate the recovery of stopped mining and processing enterprises; involve new molybdenum deposits in operation; use new technologies for processing molybdenum raw materials; organize the production of new commodity products – molybdenum oxides and molybdates.