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Global molybdenum production and use rises in Q3 2024
18/12/2024
Figures released today by the International Molybdenum Association (IMOA) show that global production of molybdenum rose by 2% to 162.4 million pounds (mlbs) in Q3 2024 compared to the previous quarter. However, this was similar to same quarter of the previous year.
Global usage of molybdenum in Q3 2024 rose 2% to 164.1 mlbs compared to the previous quarter, a 3% rise compared to the same quarter of the previous year.
China remained the largest producer of molybdenum at 74.5 mlbs - a 1% fall compared to the previous quarter, but a 1% rise compared to the same quarter of the previous year. South America remained the second largest producer of molybdenum at 46.4 mlbs – a 10% rise compared to the previous quarter, or a 7% rise compared to the same quarter of the previous year. Production in North America fell again to 27.3 mlbs – a 1% fall compared to the previous quarter, or a 5% fall compared to the same quarter of the previous year. Production in Other Regions also fell again to 14.2 mlbs – a 1% fall compared to the previous quarter or a fall of 19% when compared to the same quarter of the previous year.
China remained the largest user of molybdenum at 80.5 mlbs and saw the largest increase in usage, 13%, when compared to the previous quarter or an 8% rise when compared to the same quarter of the previous year. Europe remained the second largest user of molybdenum at 28.5 mlbs, although it saw the largest decrease, 14%, when compared to the previous quarter, but this represented a 1% rise when compared to the same quarter of the previous year. Usage in Other Regions rose by 1% to 22.5 mlbs, but a 6% fall compared to the same quarter of the previous year. Usage in the USA fell by 5% to 15.9 mlbs compared to the previous quarter, a 1% rise compared to the same quarter of the previous year. Japan saw a 4% fall in usage to 11 mlbs compared to the previous quarter and the same quarter of the previous year. CIS saw a 3% rise in usage to 5.7 mlbs, a 1% fall 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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