Global molybdenum production rises while use falls in Q3

Figures released yesterday by the International Molybdenum Association (IMOA) show that global production of molybdenum rose while usage fell in the third quarter of 2019 when compared to the second quarter of the same year.

Global production of molybdenum rose by 1% to 143.9 million pounds (mlbs) when compared to the previous quarter of 2019, a 4% rise when compared to the same quarter of last year. Global use of molybdenum fell by 8% to 136.4 mlbs, a fall of 7% when compared to the same quarter of the previous year.

China remained the largest producer of molybdenum at 52.8 mlbs, a 4% increase on the previous quarter but a 15% increase when compared to the same quarter of the previous year. Production in South America saw the largest percentage increase of 10% to 48.3 mlbs when compared to the previous quarter, but this represented a fall of 2% when compared to the same quarter of the previous year. Production in North America saw the largest percentage fall of 13% to 33.4 mlbs, although this represented a 2% increase when compared to the same quarter of the previous year. Production fell 6% in other countries to 9.4 mlbs when compared to the previous quarter, a 5% fall when compared to the same quarter as the previous year.

Global use of molybdenum fell by 8% to 136.4 mlbs when compared to the previous quarter, a 7% fall when compared to the same quarter of the previous year. China remained the largest user at 53.6 mlbs, a 4% decrease when compared to the previous quarter but a 6% decrease when compared to the same quarter of the previous year. While Europe remained the second largest user at 30.2 mlbs, it experienced the largest drop in usage, a 16% drop when compared to the previous quarter and an 11% drop when compared to the same quarter of the previous year. Other countries used 20.6 mlbs, a 5% drop when compared to the previous quarter and a 7% drop when compared the same quarter of the previous year. Molybdenum use in the U.S.A. fell for the second consecutive quarter to 13.7 mlbs, a 2% fall when compared to the previous quarter and a 7% fall when compared to the same quarter of the previous year. Japan saw a 9% decrease in its usage to 13.3 mlbs when compared to the previous quarter, a 6% fall when compared to the same quarter of the previous year. CIS saw a 15% reduction in their usage to 5 mlbs when compared to the previous quarter, an 8% reduction in comparison to the same quarter of the previous year.

IMOA is a non-profit trade association representing the interests of most of the world’s molybdenum producers and converters, as well as consumers and traders.

Molybdenum is added to steels and cast irons 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.