Molybdenum production rises, usage falls, says IMOA

South America overtook China to become the largest producer of molybdenum at 198.9 million pounds, up 6% from 187.2 million pounds in 2019. While China, the second largest producer at 195.0 million pounds, was the only region to see a fall in production in 2020, down 5% from 205.6 million pounds the previous year. North America produced 153.7 million pounds, an 8% rise from 141.8 million pounds in 2019. Production in other regions saw the biggest percentage increase, up 34% to 54.8 million pounds from 40.8 million pounds the previous year.

Global production in Q4 2020 rose 7% in comparison to Q3, with a significant rise of 21% in China, 7% in North America, and a 1% increase in other regions. South America was the only region to see a fall in production, 3%, when compared to Q3. When compared to the same quarter of the previous year, globally there was an 8% increase. Other regions saw the highest increase in production, 37%, when compared to Q4 2019, while China saw a 9% rise and North America a 7% rise. South America was the only region not to see an increase; its production remained static at 51.8 million pounds when compared to the same quarter of the previous year.

China remained the largest user of molybdenum and was the only region to see an increase in use in 2020, up 6% to 234.6 million pounds from 220.9 million pounds the previous year. Europe remained the second largest user of molybdenum at 116.9 million pounds but this represented a 13% decrease from 135.1 million pounds in 2019. Other regions saw the smallest drop in usage of 5% to 84.0 million pounds from 88.0 million pounds when compared to the previous year. The USA, the fourth largest user of molybdenum, saw the largest decrease in usage of 18% to 46.2 million pounds from 56.7 million pounds when compared to 2019. Japan saw the second largest decrease in usage of 17% to 45.1 million pounds from 54.1 million pounds when compared to 2020. Use in CIS saw a drop of 11% to 19.0 million pounds from 21.4 million pounds when compared to the previous year. Usage in other regions saw a 5% fall to 84.0 million pounds from 88.0 million pounds from the previous year.

In Q4 global usage rose 10% when compared to the previous quarter, a 7% increase when compared to the same quarter of the previous year. Other regions saw the largest increase in usage, 18%, when compared to Q3, although this represented a 7% increase when compared to the same quarter of the previous year. China, the largest user of molybdenum, saw the smallest increase in usage, 5%, when compared to the previous quarter, although the largest rise, 17%, when compared to the same quarter of the previous year. Europe saw a 15% increase in usage when compared to the previous quarter, a 5% increase when compared to the same quarter of the previous year. USA saw a 12% rise in usage, although this represented a 7% drop when compared to the same quarter of the previous year. Japan saw an 11% increase when compared with the previous quarter, but the largest drop, 14%, when compared to the same quarter of the previous year. CIS saw a 10% rise in usage when compared to Q3, a 14% increase when compared to the same quarter of the previous year. Usage in other regions saw the largest rise, 18%, when compared to the previous quarter, a 7% rise when compared to the same quarter of 2019.