Figures released today by the International Molybdenum Association (IMOA) show that the global production and use of molybdenum fell in Q1 when compared to the previous quarter (Q4 2019).

Global production of molybdenum fell by 8% to 139.2 million pounds (mlb) when compared to the previous quarter of 2019. However, this represented a 1% rise when compared to the same quarter of the last year. Global use of molybdenum fell by 13% to 123.6mlbs when compared to the previous quarter, also a fall of 13% when compared to the same quarter of the previous year.

China remained the largest producer of molybdenum at 47.7mlbs, an 8% drop in comparison to the previous quarter but a 6% fall when compared to the same quarter of the previous year. Production in South America saw the largest percentage fall of 18% to 42.2mlbs when compared to the previous quarter, this represented a 2% fall when compared the same quarter of the previous year. North America was the only region to see a rise in production during the last quarter with production increasing 6% to 39.5mlbs when compared to the previous quarter, although this represented a 18% rise when compared to the same quarter of the previous year. Production in other countries fell 3% to 10.1mlbs, a fall of 5% when compared to the same quarter of the previous year.

Global use of molybdenum fell 13% to 123.6mlbs when compared to the previous quarter and the same quarter of the previous year. China remained the largest user of molybdenum but saw the largest fall of 31% to 40.3mlbs when compared to the previous quarter, an 18% fall when compared to the same quarter of the previous year. Europe remained the second largest user at 31.1mlbs and experienced the only rise in use, 6%, when compared to the previous quarter but this represented a 13% fall when compared to the same quarter of the previous year. Other countries used 22.5mlbs, a 1% drop when compared to the previous quarter and was the only region to see a rise, 3%, when compared to the same quarter of the previous year. This quarter, Japan over took the USA in its use of molybdenum at 12.7mlbs, a 9% drop in comparison to the previous quarter and a 7% fall when compared to the same quarter of the previous year. Molybdenum use in the USA fell for the third consecutive quarter to 12.6mlbs, a 5% fall when compared to the previous quarter and a 12% fall when compared to the same quarter of the previous year. CIS saw a 10% fall in usage to 4.3 mlbs, although this represented a 31% reduction when compared to the same quarter of the previous year.