Global molybdenum production and use falls in Q1 2024

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, but 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.