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Global Molybdenum Production Rose While Demand Declined in 2019

Global molybdenum production rose to 575.4 million pounds in 2019, up 1% from 571.5 million pounds in 2018, according to figures released today by the International Molybdenum Association (IMOA), a non-profit trade association representing the interests of the world's molybdenum producers, converters, consumers and traders. Global demand was 569.6 million pounds in 2019, a fall of 2% from 583.2 million pounds the previous year.

China remained the largest producer at 205.6 million pounds in 2019, up 2% from 201.9 million pounds in 2018. Production in South America, the second largest producer, fell 4% to 187.2 million pounds from 194.9 million pounds in 2018. North America produced 141.8 million pounds, a rise of 5% from 134.9 million pounds in 2018. Production in other regions rose by 3% in 2019 to 40.8 million pounds from 39.8 million pounds the previous year. 

Production in Q4 2019 rose by 5% in comparison to Q3, with a significant rise of 12% in North America, 7% in South America and 5% in other regions while China’s production remained static. China’s production was 13% less in Q4 when compared to Q3 of 2018, while North and South America both saw 1% increases in production and other regions saw a 4% rise.  

China remained the largest user of molybdenum, at 217 million pounds in 2019 a rise of 1% from 214.5 million pounds in 2018. Europe remained the second largest user at 131.3 million pounds, but this represented an 8% decrease from 143.3 million pounds in 2018. The USA, the fifth largest user of molybdenum, also saw an 8% decrease in use to 55.3 million pounds from 60 million pounds in 2018. 

Other regions saw an increase of 1% in their use to 88.4 million pounds from 87.7 million pounds the previous year. Japan, having seen an 8% rise in use in 2018, saw a 1% fall in 2019 to 55.7 million pounds from 56.4 million pounds the previous year. Use in CIS saw a rise of 3% to 21.8 million pounds from 21.2 million pounds in 2018.

In Q4 global usage rose by 3% when compared to Q3 and the same quarter in 2018. Usage in Europe fell 18% when compared to the same quarter of the previous year, although this represented a 3% fall when compared to Q3 2019. USA saw an 11% fall in Q4 when compared to the same quarter of 2018, but a 3% fall when compared to the previous quarter. China saw a 23% rise in usage in Q4 to 58.1 million pounds when compared to the same quarter of the previous year, this represented an 8% rise when compared to Q3 2019.

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