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.
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
