The best replacement for molybdenum is tungsten.

The best alternatives to molybdenum are rated as following:
★★★★★  tungsten
★★★★  lithium grease
★★  molybdate
★★  chrome vanadium
★  inox
  vanadium

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Speaking about molybdenum, one probably shouldn't forget about msm.

Other search terms related to molybdenum and their ratings are:
★★★★★ msm
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molybdenum
tungsten
lithium grease