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Global production and usage of molybdenum rises in Q2 2023
11/10/2023
Figures released today by the International Molybdenum Association (IMOA) show that global production of molybdenum rose by 1% to 148.5 million pounds (mlbs) in Q2 2023 compared to the previous quarter. However, this represented a 4% rise when compared to the same quarter of the previous year.
Global usage of molybdenum in Q2 2023 rose by 7% to 156.4 mlbs when compared to the previous quarter, a fall of 1% when compared to the same quarter of the previous year.
China remained the largest producer of molybdenum at 66.1 mlbs – a fall of 2% when compared to the previous quarter, but a rise of 8% when compared to the same quarter of the previous year. South America remained the second largest producer of molybdenum at 39.7 mlbs – a fall of 4% when compared to the previous quarter and the same quarter of the previous year. Production in North America rose by 5% to 28.4 mlbs when compared to the previous quarter, a rise of 8% when compared to the same quarter of the previous year. Production in Other Regions saw the largest rise, 25%, to 14.3 mlbs when compared to the previous quarter, a 2% rise when compared to the same quarter of the previous year.
China remained the largest user of molybdenum at 67.8 mlbs – a 21% increase when compared to the previous quarter and a 2% increase when compared to the same quarter as the previous year. Europe remained the second largest user at 32.8 mlbs - a 1% fall when compared to the previous quarter but a 2% rise when compared to the same quarter of the previous year. Usage in Other Regions fell 4% to 21.8 mlbs when compared to the previous quarter, although this represented a 19% fall when compared to the same quarter of the previous year. Usage in the USA rose 5% to 16.5 mlbs when compared to the previous quarter, an 11% rise when compared to the same quarter of the previous year. Usage in Japan saw a 5% fall to 12.2 mlbs when compared to the previous quarter of the same year, this represented a 2% fall when compared the same quarter of the previous year. Usage in CIS rose 6% to 5.3 mlbs when compared to the previous quarter, although when compared to the same quarter of the previous year it remained static.
General information for media
IMOA is a non profit trade association, representing the majority of the molybdenum industry worldwide. It works to raise awareness about the unique properties of molybdenum, its beneficial effects on materials performance, its safety in use and its contribution to sustainable development.
Molybdenum is added to alloy steels to improve strength, toughness, hardenability and weldability for numerous applications in the automotive, shipbuilding, construction, mining, chemical, oil & gas and energy generation industries. In stainless steels and superalloys, it improves corrosion resistance and high-temperature performance and finds uses in many industrial applications. It is also used in a variety of products from catalysts and lubricants to pigments and paint.
IMOA has a strict antitrust compliance policy which delegates of all meetings are required to observe. All such meetings are observed by legal counsel.
For more information please email the communications team at media@imoa.info.
For up-to-date information please follow IMOA on Twitter and LinkedIn.
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