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Global molybdenum production rises while use falls in Q2 2024
08/10/2024
Figures released today by the International Molybdenum Association (IMOA) show that global production of molybdenum rose by 1% to 159.2 million pounds (mlbs) in Q2 2024 compared to the previous quarter. This represents a 4% increase when compared to Q2 2023.
Global usage of molybdenum in Q2 2024 fell 2% to 160.2 mlbs when compared to the previous quarter, a 1% increase when compared to the same quarter of the previous year.
China remained the largest producer of molybdenum at 74.9 mlbs - a 4% increase on the previous quarter but a 10% increase when compared to the same quarter of the previous year. South America remained the second largest producer of molybdenum at 42.3 mlbs – a 2% rise when compared to the previous quarter and the same quarter of the previous year. Production in North America fell again to 27.6 mlbs – a 2% fall when compared to Q1 and a 3% fall when compared to the same quarter of the previous year. Production in Other Regions also fell again to 14.3 mlbs – a fall of 3% when compared to the previous quarter, but a fall of 7% when compared to the same quarter of the previous year.
China remained the largest user of molybdenum at 71.3 mlbs. However, this represented a 5% fall when compared to the previous quarter, but a 1% rise when compared to the same quarter of the previous year. Europe remained the second largest user of molybdenum, rising 5% to 33.1 mlbs when compared to the previous quarter or 1% when compared to the same quarter of the previous year. Usage in Other Regions fell 6% to 22.2 mlbs when compared to the previous quarter, although this represents a 2% rise when compared to the same quarter of the previous year. The USA saw a 1% rise in usage to 16.6 mlbs when compared to the previous quarter, however this is static when compared to the same quarter of the previous year. Usage in Japan rose 6% to 11.5 mlbs when compared to the previous quarter, although this represented a 6% decrease when compared to the same quarter of the previous year. CIS saw a 4% rise in usage to 5.5mlbs when compared to the previous quarter and 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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