Back | Latest news overview
Molybdenum use hits a new high
Global use of molybdenum has soared to a new high of 474 million lbs surpassing the peak use in 2007 of 470 million lbs, according to new full-year figures from the International Molybdenum Association.
The greatest demand for molybdenum in 2010 came from China where use increased from 119 million lbs in 2009 to 148.5 million lbs in 2010.
The second biggest user was Europe with 113.9 million lbs in 2010 up from 107.3 million lbs in 2009.
The USA and Japan were the third and fourth largest users of molybdenum accounting for 67.9 and 60.9 million lbs respectively.
North America was the largest producing region in 2010 with 173.2 million lbs but China remained the largest producing country with 159.9 million lbs.
South America was the third largest molybdenum producing region accounting for 115.8 million lbs in 2010 with other molybdenum producing regions contributing 48 million lbs.
New figures for the fourth quarter of 2010, also released in May, saw North America’s molybdenum production rise to 47.8 million lbs up from 42.8 lbs in Q3. The same quarter saw China’s production drop to 35.3 million lbs from a high in 2010 of 44 million lbs in Q2.
During Q4, China used 36.2 million lbs compared with Europe’s 31.1 million lbs. The USA and Japan used 15.9 and 15.8 million lbs respectively.
Tim Outteridge, IMOA’s Secretary-General, commented: “These Q4 figures complete our first year of providing our members with regular quarterly updates.
“Our full year figures for 2010 show that demand for molybdenum has significantly increased from last year and has in fact reached an all-time high.
“Production has also increased with North America now leading the way as the biggest regional producer of molybdenum.”
IMOA releases quarterly and full-year statistics as part of a strategic plan initiative to improve services to its members.
All figures are million lbs contained Molybdenum.
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 firstname.lastname@example.org.
For up-to-date information please follow IMOA on Twitter and LinkedIn.
Back | Latest news overview