Global molybdenum production rises in third quarter, as use falls

Global production of molybdenum rose by 5% to 149.5 million pounds (lbs.) in the third quarter of 2020, when compared to the same quarter of 2019, a 1% rise when compared to the previous quarter of 2020, according to the latest figures released by the International Molybdenum Association (IMOA).

Meanwhile, global use of molybdenum fell by 1% to 138.5 million lbs. when compared to the same quarter of the previous year, but rose 9% when compared to the previous quarter.

South America remained the largest producer of molybdenum at 53.3 million lbs. Production there rose 10% when compared to the same quarter of the previous year and 8% when compared to the previous quarter.

China, the second largest producer, saw the only percentage fall in production, 12%, to 45.4 million lbs. when compared to the same quarter of the previous year. This represented a 4% fall when compared to the previous quarter of the same year. 

North American production rose 13% to 37.3 million lbs. when compared to the same quarter of the previous year, 2% when compared to the previous quarter. 

Production in other regions saw the largest percentage increase, 39%, to 13.5 million lbs. when compared to the same quarter of the previous year. However this represented a 9% fall when compared to the previous quarter.

Molybdenum use in all regions increased when compared to the previous quarter. However, China was the only region to see an increase in usage when compared to the same quarter of the previous year. China remained the largest user of molybdenum at 63.0 million lbs., a 15% rise when compared to the same quarter of the previous year and a 7% rise when compared to the previous quarter. 

Europe remained the second largest user at 27.6 million lbs., a 5% increase when compared to the previous quarter but 9% lower than the same quarter of the previous year. Use in other regions increased 21% to 22.6 million lbs. when compared to the previous quarter, but this represented a fall of 2% when compared to the same quarter of the previous year. 

Molybdenum use in the United States saw a 20% rise to 11.4 million lbs. when compared to the previous quarter, although this represented a 19% drop in usage when compared to the same quarter of the previous year. 

Japan saw a 3% increase in usage to 10.5 million lbs. when compared to the previous quarter, but a 19% fall in comparison to the same quarter of the previous year. 

CIS saw the greatest fall in usage, 30%, to 3.4 million lbs. when compared to the same quarter of the previous year, however this was a rise of 5% when compared to the previous quarter.

IMOA currently represent around 90% of mine production and almost all conversion capacity outside China. It also represents some mining and conversion capacity within China.

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.