According to new full-year figures from the International Molybdenum Association, the global use of molybdenum has rocketed to a new high of 474 million lbs, exceeding the peak use of 470 million lbs in 2007. China had the greatest demand for molybdenum in 2010; their use increased from 119 million lbs in 2009 to 148.5 million lbs in 2010. Europe was the second biggest user with 113.9 million lbs in 2010 up from 107.3 million lbs in 2009. The third and fourth largest users were USA and Japan, accounting for 67.9 and 60.9 million lbs respectively. While North America was the largest producing region in 2010 with 173.2 million lbs, China remained the largest producing country with 159.9 million lbs. The third largest molybdenum producing region was South America, accounting for 115.8 million lbs in 2010 with other molybdenum producing regions contributing 48 million lbs. New figures for the fourth quarter of 2010 saw North America’s molybdenum production rise to 47.8 million lbs up from 42.8 lbs in Q3. China’s production dropped to 35.3 million lbs, during the same quarter, from a high in 2010 of 44 million lbs in Q2. During Q4, China used 36.2 million lbs while Europe used 31.1 million lbs. The USA and Japan used 15.9 and 15.8 million lbs respectively.