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Global production and usage of molybdenum falls in Q1 2023
05/07/2023
Figures released today by the International Molybdenum Association (IMOA) show that global production of molybdenum fell by 3% to 146.8 million pounds (mlbs) in Q1 2023 compared to the previous quarter. However, this represented a 5% increase when compared to the same quarter of the previous year.
Global usage of molybdenum in Q1 2023 fell by 8% to 144mlbs when compared to the previous quarter, a 6% fall when compared to the same quarter of the previous year.
China, the only region to see a rise in production this quarter, remained the largest producer of molybdenum at 67.2mlbs - a 3% rise when compared the previous quarter, but a 14% rise when compared to the same quarter of the previous year. South America remained the second largest producer at 41.2mlbs – a 7% fall when compared to the previous quarter and a 2% fall when compared to the same quarter of the previous year. Production in North America fell to 27mlbs – an 11% fall when compared to the previous quarter and a 3% fall when compared to the same quarter as the previous year. Production in Other regions saw a 3% fall to 11.4mlbs when compared to the previous quarter, a 2% fall when compared to the same quarter of the previous year.
China remained the largest user of molybdenum at 56.1mlbs but saw the largest fall, 19%, when compared to the previous quarter, although this represented a 14% fall when compared to the same quarter as the previous year. Europe remained the second largest user at 33.2mlbs – a 5% rise when compared to the previous quarter and an 8% rise when compared to the same quarter as the previous year. Use in Other regions fell 5% to 21.1mlbs when compared to the previous quarter, an 8% fall when compared to the same quarter as the previous year. The USA saw a 1% rise in usage to 15.7mlbs when compared to the previous quarter, although this represented a 4% increase when compared to the same quarter of the previous year. Japan also saw a rise in usage, 2%, to 12.9mlbs when compared to the previous quarter, 1% when compared to the same quarter of the previous year. While CIS saw the largest percentage rise in usage, 11%, to 5mlbs when compared to the previous quarter, this represented a 19% fall when compared to the same quarter of the previous year.
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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