Molybdenum production and use rises

According to figures released by the International Molybdenum Association (IMOA), global production of molybdenum has increased by 14% in the first three months of this year when compared with the same period in 2010. China came out on top, raising its production by 21% to 44.8 million lbs, closely followed by South America with a 19% increase, up to 29.8 million lbs. In North America, the production total was 45.7 million lbs, an increase of 9%. Production in other parts of the world decreased by 1% in the first quarter of the year when compared to 2010. In comparison to production figures for the final quarter of 2010, the figures for the first quarter of 2011 reveal a decline of 4% each for North and South America and 4% in other molybdenum producing regions of the world. However, an increase of 27% in Chinese production results in an overall increase of 5% in the first three months of this year compared to the last three months of 2010. Compared to the same period in 2010, molybdenum usage worldwide was up 16% in the first quarter of 2011, with the CIS’s total usage of 6.9 million lbs representing a 58% boost. Europe was in second place, using 35.7 million lbs, up 27%, followed by China, up 15% at 39.5 million lbs and the USA up 8% at 19 million lbs. In Japan, use of molybdenum dropped 1% to 14.2 million lbs. In comparison to the usage figures for the last quarter of 2010, the first three months of 2011 show a global increase of 9%.

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