Global molybdenum production rises while usage falls during pandemic
April 21, 2021
As per figures released by the International Molybdenum Association (IMOA), global production of molybdenum rose by 5% in 2020 to 602.4 million pounds from 575.4 million pounds in 2019. However, global usage was 545.9 million pounds in 2020, a fall of 5% from 576.3 million pounds in the previous year.
South America overtook China to become the largest producer of molybdenum at 198.9 million pounds, up 6% from 187.2 million pounds in 2019. While China, the second largest producer at 195.0 million pounds, was the only region to see a fall in production in 2020, down by 5% from 205.6 million pounds in the previous year.
China remained the largest user of molybdenum and was the only region to see an increase in use in 2020, up by 6% to 234.6 million pounds from 220.9 million pounds in the previous year. Europe remained the second largest user of molybdenum at 116.9 million pounds but this represented a 13% decrease from 135.1 million pounds in 2019. Other regions saw the smallest drop in usage of 5% to 84.0 million pounds from 88.0 million pounds when compared to the previous year.