Figures released by the International Molybdenum Association (IMOA) show that global production of molybdenum increased to 150.3 million pounds for Q3 2014, up 5% from 149.9 million pounds in the previous quarter and 11% higher than in Q4 2013.
According to IMOA, global use of molybdenum in Q3 2014 was down 3% to 136.4 million pounds from 139.9 million pounds in the previous quarter and 1% lower than Q4 2013.
The USA remains the biggest producer of molybdenum. Production rose from 49.9 million pounds in Q2 2014 to 53.3 million pounds in Q3, an increase of 7% and up 20% when compared with the same period in 2013.
Chinese molybdenum production increased from 49.6 million pounds in Q2 2014 to 51.1 million pounds in Q3, an increase of 3%.
In South America, production rose from 34.4 million pounds in Q2 2014 to 36.9 million pounds in Q3.
Elsewhere in the world, production remained virtually unchanged at 8.9 million pounds.
China is the biggest user of molybdenum. In Q3 2014 it used 47.5 million pounds, virtually unchanged from Q2 but 10% less than the 52.9 million pounds recorded during Q3 2013.
The second biggest user was Europe (34.3 million pounds) and usage in the USA was up 3% to 16.3 million pounds.
In Japan usage decreased from 15 million pounds in Q2 2014 to 14.9 million pounds in Q3 2014.
In the CIS countries usage decreased by 8% to 6 million pounds while in other countries it fell to 17.4 million pounds.