25.4 C
Belgrade
Supported byspot_img
spot_img

Global production and usage of molybdenum falls in Q1 2023

Member of Europium Groupspot_img
Supported byspot_img

Figures released by the International Molybdenum Association (IMOA) show that global production of molybdenum fell by 3% to 146.8 million pounds (mlbs) in Q1 2023 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 2023 fell by 8% to 144mlbs when compared to the previous quarter, a 6% fall when compared to the same quarter of the previous year.

China, the only region to see a rise in production this quarter, remained the largest producer of molybdenum at 67.2mlbs – a 3% rise when compared the previous quarter, but a 14% rise when compared to the same quarter of the previous year. South America remained the second largest producer at 41.2mlbs – a 7% fall when compared to the previous quarter and a 2% fall when compared to the same quarter of the previous year. Production in North America fell to 27mlbs – an 11% fall when compared to the previous quarter and a 3% fall when compared to the same quarter as the previous year. Production in Other regions saw a 3% fall to 11.4mlbs when compared to the previous quarter, a 2% fall when compared to the same quarter of the previous year.

Supported by

China remained the largest user of molybdenum at 56.1mlbs but saw the largest fall, 19%, when compared to the previous quarter, although this represented a 14% fall when compared to the same quarter as the previous year. Europe remained the second largest user at 33.2mlbs – a 5% rise when compared to the previous quarter and an 8% rise when compared to the same quarter as the previous year. Use in Other regions fell 5% to 21.1mlbs when compared to the previous quarter, an 8% fall when compared to the same quarter as the previous year.

The USA saw a 1% rise in usage to 15.7mlbs when compared to the previous quarter, although this represented a 4% increase when compared to the same quarter of the previous year. Japan also saw a rise in usage, 2%, to 12.9mlbs when compared to the previous quarter, 1% when compared to the same quarter of the previous year. While CIS saw the largest percentage rise in usage, 11%, to 5mlbs when compared to the previous quarter, this represented a 19% fall when compared to the same quarter of the previous year.

 

Source: Imoa

Supported byElevatePR Digital

Related News

Mali signs lithium mining agreement with Ganfeng, eyes revenue boost

Earlier this week, Mali's economy minister announced a significant deal with China's Ganfeng Lithium regarding the operation of the Goulamina lithium mine. Under the...

IEA analysis calls for greater investment despite 2023 drop in clean energy mineral prices

Prices for key minerals used in clean energy technologies fell in 2023 as supply outpaced demand, easing pressure on the market. However, a new...

EQ Resources surpasses production records despite cyclone challenges

Despite recovering from the impact of cyclone Jasper, EQ Resources (EQR) celebrates a milestone in tungsten production at its Mount Carbine mine in Queensland....

Argentina’s mining resilience: Overcoming economic challenges to maintain investment allure

Argentina stands out as a compelling mining jurisdiction despite facing significant macroeconomic hurdles. The country's robust mineral potential and stable, investor-friendly mining policies continue...
Supported by
Supported by
Supported by
error: Content is protected !!