Global molybdenum production up 9% in third quarter 2017, IMOA says

Year-on-year global production of molybdenum increased to 139.8 million pounds in the third quarter of 2017, up 9% compared with the same period in 2016. Global use of molybdenum in the third quarter also increased to 135.9 million pounds, up 6% compared with the same period in 2016, figures released by the International Molybdenum Association (IMOA) show. Compared with the previous quarter, global production and use fell by 4% and 1% respectively.

South America remained the biggest producer with 50.2 million pounds in the third quarter of 2017, an increase of 11% compared with the same period in 2016, but a decrease of 6% from the previous quarter. Production in China was 48.5 million pounds, 6% more than the same period in 2016, but down 6% from the previous quarter. Production in North America increased to 31.6 million pounds in the third quarter, an increase of 15% compared with the same quarter in 2016, and an increase of 5% from the previous quarter.

China remained the biggest user, at 50.4 million pounds in the third quarter of 2017, up 11% compared to the same period in 2016 and up 11% compared with the previous quarter. Europe was the second largest user at 32.4 million pounds, up 2% from the same period in 2016, but a decrease of 12% from the previous quarter.

Usage in the U.S.A. was stable at 14.9 million pounds, although this was 9% greater than the same quarter in 2016, while usage in Japan was 1% more than in the same period in 2016 at 12.2 million pounds. Usage in the CIS countries increased to 4.7 million pounds, up 2%, while usage in other countries increased to 21.2 million pounds, up 4%, both compared with the same period in 2016.

IMOA, based in London, UK, 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.