Global molybdenum production and use falls in Q1 2024

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04/07/2024

Figures released today by the International Molybdenum Association (IMOA) show that global production of molybdenum fell by 3% to 157.1 million pounds (mlbs) in Q1 2024 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 fell by 1% to 164.5mlbs when compared to the previous quarter, although this represented a 13% rise when compared to the same quarter of the previous year.

China remained the largest producer of molybdenum at 72.4mlbs - a 1% fall when compared to the previous quarter, but a 9% rise when compared to the same quarter of the previous year. South America remained the second largest producer at 41.6mlbs - a 2% fall when compared to the previous quarter but a 1% rise when compared to the same quarter of the previous year. Production in North America fell 2% to 28.2mlbs when compared to the previous quarter, although this represented a 4% rise when compared to the same quarter of the previous year. Production in other regions fell to 14.9mlbs - a fall of 10% when compared to the previous quarter but a rise of 1% when compared to the same quarter of the previous year.

China remained the largest user of molybdenum at 75mlbs - a fall of 3% when compared to the previous quarter, although this represented a 34% rise when compared to the same quarter of the previous year. Europe remained the second largest user at 31.6mlbs - a rise of 3% when compared to the previous quarter but a fall of 5% when compared to the same quarter of the previous year. Use in Other regions rose by 1% to 25.3mlbs when compared to the previous quarter, a 12% rise when compared to the same quarter of the previous year. The USA saw a 2% rise in use to 16.5mlbs when compared to the previous quarter, a 4% rise when compared to the same quarter of the previous year. Usage in Japan fell 1% to 10.9mlbs when compared to the previous quarter, a 16% reduction when compared to the same quarter of the previous year. Use in CIS fell 2% to 5.3mlbs when compared to the previous quarter, a 6% 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 [email protected].
For up-to-date information please follow IMOA on Twitter and LinkedIn.

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