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Molybdenum production and use both up in Q2
Global production of molybdenum increased to 144.3 million pounds in the second quarter of 2017, up 13% from 127.8 million pounds in the previous quarter, and an increase of 18% compared with the same period in 2016. Global use of molybdenum in the second quarter also increased slightly, up 1% to 136.3 million pounds, an increase of 7% compared with the same period in 2016, figures released today by the International Molybdenum Association (IMOA) show.
South America overtook China to become the biggest producer, with 53.2 million pounds in the second quarter of 2017, an increase of 23% from both the previous quarter and the same period in 2016. Production in China also increased to 51.8 million pounds, up 14% from the previous quarter and up 16% compared to the same period in 2016. Production in North America was fractionally higher at 30.3 million pounds in the second quarter, an increase of 1% from the previous quarter, and an increase of 19% compared with the same quarter in 2016.
China remained the biggest user, at 45.2 million pounds in the second quarter of 2017, down 2% from 46.3 million pounds in the first quarter of 2017 and also down by 2% compared to the same period in 2016. Europe was the second largest user at 36.8 million pounds, an increase of 2% from 36.1 million pounds in the previous quarter, and up by 12% compared to the same period in 2016.
Usage in the USA was 14.8 million pounds, up 7% from 13.8 million pounds in the previous quarter, and up 12% compared to the same quarter in 2016, while usage in Japan fell slightly by 1% to 12.8 million pounds, although this was still 11% more than in the same period in 2016. Usage in the CIS countries increased 5% to 4.9 million pounds, while usage in other countries also increased by 5% to 21.8 million pounds.
Notes for editors
IMOA is a non-profit trade association. We currently represent around 90% of mine production and almost all conversion capacity outside China. We also represent some mining and conversion capacity within China.
Molybdenum is added to steels and cast irons 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 email@example.com.
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