According to the theoretical predictions, insulating molecular hydrogen dissociates and transforms to an atomic metal at pressures P~370-500 GPa. In another scenario, the metallization first occurs in the 250-500 GPa pressure range in molecular hydrogen through overlapping of electronic bands. The calculations are not accurate enough to predict which option is realized. Here we show that at a pressure of ~360 GPa and temperatures <200 K the hydrogen starts to conduct, and that temperature dependence of the electrical conductivity is typical of a semimetal. The conductivity, measured up to 440 GPa, increases strongly with pressure. Raman spectra, measured up to 480 GPa, indicate that hydrogen remains a molecular solid at pressures up to 440 GPa, while at higher pressures the Raman signal vanishes, likely indicating further transformation to a good molecular metal or to an atomic state.