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Global molybdenum production and use rises in 2023


Global production of molybdenum was at 627.4 million pounds (mlbs) in 2023, a rise of 9% from 577.8 mlbs in 2022, figures released by the International Molybdenum Association (IMOA) show. Global usage rose 1% to 630 mlbs from 625.1 mlbs the previous year.

China remained the largest producer of molybdenum at 281.8 mlbs, up 13% from 248.6 mlbs in 2022. South America remained the second largest producer at 168.5 mlbs, a rise of 1% from 166.7 mlbs the previous year. North America saw a 1% rise in production to 113 mlbs from 112.1 mlbs the previous year. While Other regions saw the largest percentage increase in production, 27%, to 64.1 mlbs from 50.4 mlbs in 2022.

Global production in Q4 saw a 1% fall to 161.4 mlbs when compared to Q3 2023, with a fall of 1% in South America and 5% in Other regions, while production in both China and North America remained mainly static. When compared to the same quarter of the previous year (Q4, 2022), this represented a 6% rise to 161.4 mlbs, with production increasing 40% in Other regions and 12% in China, while production fell by 6% and 3% in North and South America respectively.

China remained the largest user of molybdenum at 278.5 mlbs in 2023 a 4% rise from 268.9 mlbs in 2022. Europe remained the second largest user at 124.8 mlbs, a rise of 1% from 124.2 mlbs when compared to 2022. Other regions saw a 6% fall in usage to 93.3 mlbs from 99.3 mlbs the previous year. The USA saw the largest percentage rise in use, 5%, to 64.4 mlbs from 61.3 mlbs in 2022. Japan, however, saw the largest percentage fall in usage, 7%, to 47.5 mlbs from 50.9 mlbs the previous year. Use in CIS rose 4% to 21.4 mlbs from 20.5 mlbs the previous year.

In Q4 2023 global usage rose 4% to 166 mlbs from 159.3 mlbs when compared to the Q3 2023, with a rise of 9% in Europe, 5% in Other regions, 4% in China and 3% in the USA. CIS saw the largest fall in usage, 6%, while Japan saw a 4% fall. When compared to the same quarter of the previous year (Q4, 2022) global usage increased 6%, with a rise of 20% in CIS, 14% in Other regions, 12% in China and 3% in USA. Japan saw the largest fall in usage, 13%, when compared to the same quarter of the previous year, while Europe saw a 3% fall.

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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