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Global production of molybdenum fell, while usage rose in Q1 2022
07/07/2022
Figures released today by the International Molybdenum Association (IMOA) show that the global production of molybdenum fell by 4% to 138.4 million pounds (mlbs) in Q1 2022 when compared to the previous quarter - a fall of 7% when compared to the same quarter of the previous year.
Global use of molybdenum in Q1 2022 rose 9% to 153.8mlbs when compared to the previous quarter, although this represented a 2% fall when compared to the same quarter of the previous year.
China remained the largest producer of molybdenum at 57mlbs - a fall of 2% when compared to the previous quarter but a rise of 6% when compared to the same quarter of the previous year. South America, the second largest producer, saw a 6% fall to 42mlbs when compared to the previous quarter, although this represented a 9% drop when compared to the same quarter of the previous year. North American production fell 4% to 27.9mlbs when compared to the previous quarter, although this represented a 26% fall when compared to the same quarter of the previous year. Production in Other Countries fell 2% to 11.5mlbs when compared to the previous quarter, however this represented a 6% increase when compared to the same quarter of the previous year.
Molybdenum usage rose or remained static in all regions, with the exception of Japan, when compared to Q4, 2021. China remained the largest user at 63.4mlbs - a rise of 17% when compared to the previous quarter and a 3% rise when compared to the same quarter of the previous year. Usage in Europe, the second largest user, rose 5% to 30.7mlbs when compared to the previous quarter, although this represented a 12% decrease when compared to the same quarter of the previous year. Usage in Other Regions rose to 24.2mlbs - a 7% increase when compared to the previous quarter but a 6% decrease when compared to the same quarter of the previous year. Usage in the USA remained static at 15.1mlbs when compared to the previous quarter, although this represented an 8% increase when compared to Q1, 2021. Japan, at 12.8mlbs, was the only region to see a decrease in usage when compared to the previous quarter, however this represented a 1% increase when compared to the same quarter of the previous year. CIS saw one of the largest percentage increases, 17%, to 7.6mlbs when compared to the previous quarter, although this represented a 2% reduction when compared to Q4 2021.
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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