Global molybdenum production and use falls in Q1

28 July 2020

Figures released by the International Molybdenum Association (IMOA) show that the global production and use of molybdenum fell in Q1 when compared to the previous quarter (Q4 2019). 

Global production and use of molybdenum fell by 8% to 139.2 million pounds (mlb) and 13% to 123.6mlbs when compared to the previous quarter.

China remained the largest producer of molybdenum at 47.7mlbs, an 8% drop in comparison to the previous quarter. South America saw the largest percentage fall of 18% to 42.2mlbs when compared to the previous quarter. North America was the only region to see a rise in production during the last quarter with production increasing 6% to 141.8mlbs when compared to the previous quarter. Production in other countries fell 3% to 10.1mlbs, a fall of 5% when compared to the same quarter of the previous year.

China remained the largest user of molybdenum but saw the largest fall of 31% to 40.3mlbs when compared to the previous quarter. Europe remained the second largest user at 31.1mlbs and experienced the only rise in use, 6%, when compared to the previous quarter. Other countries used 22.5mlbs, a 1% drop when compared to the previous quarter and was the only region to see a rise, 3%, when compared to the same quarter of the previous year.