Global production of molybdenum was at 627.4 million pounds (mlbs) in 2023, a rise of 9% from 577.8 mlbs in 2022, figures released by the International Molybdenum Association (IMOA) show. Global usage rose 1% to 630 mlbs from 625.1 mlbs the previous year.
China remained the largest producer of molybdenum at 281.8 mlbs, up 13% from 248.6 mlbs in 2022. South America remained the second largest producer at 168.5 mlbs, a rise of 1% from 166.7 mlbs the previous year. North America saw a 1% rise in production to 113 mlbs from 112.1 mlbs the previous year. While Other regions saw the largest percentage increase in production, 27%, to 64.1 mlbs from 50.4 mlbs in 2022.
Global production in Q4 saw a 1% fall to 161.4 mlbs when compared to Q3 2023, with a fall of 1% in South America and 5% in Other regions, while production in both China and North America remained mainly static. When compared to the same quarter of the previous year (Q4, 2022), this represented a 6% rise to 161.4 mlbs, with production increasing 40% in Other regions and 12% in China, while production fell by 6% and 3% in North and South America respectively.
China remained the largest user of molybdenum at 278.5 mlbs in 2023 a 4% rise from 268.9 mlbs in 2022. Europe remained the second largest user at 124.8 mlbs, a rise of 1% from 124.2 mlbs when compared to 2022. Other regions saw a 6% fall in usage to 93.3 mlbs from 99.3 mlbs the previous year. The USA saw the largest percentage rise in use, 5%, to 64.4 mlbs from 61.3 mlbs in 2022. Japan, however, saw the largest percentage fall in usage, 7%, to 47.5 mlbs from 50.9 mlbs the previous year. Use in CIS rose 4% to 21.4 mlbs from 20.5 mlbs the previous year.
In Q4 2023 global usage rose 4% to 166 mlbs from 159.3 mlbs when compared to the Q3 2023, with a rise of 9% in Europe, 5% in Other regions, 4% in China and 3% in the USA. CIS saw the largest fall in usage, 6%, while Japan saw a 4% fall. When compared to the same quarter of the previous year (Q4, 2022) global usage increased 6%, with a rise of 20% in CIS, 14% in Other regions, 12% in China and 3% in USA. Japan saw the largest fall in usage, 13%, when compared to the same quarter of the previous year, while Europe saw a 3% fall.