[Ferro-Alloys.com] Global production of molybdenum was at 639.7 million pounds (mlbs) in 2024, a rise of 2% from 625.4 mlbs in 2023, figures released by the International Molybdenum Association (IMOA) show. Global usage rose 3% to 648.4 mlbs from 630 mlbs the previous year. China remained the largest producer of molybdenum in 2024 at 294.8 mlbs, up 5% from 281.8 mlbs in 2023. South America remained the second largest producer at 174.7 mlbs - a rise of 4% from 168.5 mlbs the previous year. North America saw production rise 1% to 114.5 mlbs from 113 mlbs the previous year. Other Regions saw a decrease of 10% in production to 55.7 mlbs from 62.1 million pounds in 2023.

Global production in Q4 2024 saw a 3% rise to 164.3 mlbs when compared to the same quarter of the previous year.  North America saw the largest rise, 9%, to 31.3 mlbs, while South America saw a 4% rise to 44.3 mlbs and China saw a 2% rise to 74.8 mlbs. Other Regions saw production decrease 4% in Q4 to 14 mlbs, when compared to the same quarter of the previous year. When compared to the previous quarter (Q3, 2024), North America saw a 15% rise, Other Regions 2%, China 1%, while production in South America fell by 5%.China, the largest user of molybdenum, saw the biggest increase in usage, 10%, to 305 mlbs in 2024, when compared to 2023, while usage in the USA remained largely static. Europe, the second largest user of molybdenum, saw a 2% decrease in usage to 122.3 mlbs, while Other Regions saw a 1% fall to 92.1 mlbs.  Japan saw the largest percentage decrease in usage, 7%, to 44.1 mlbs in 2024, while CIS saw a 3% reduction to 20.8 mlbs.

In Q4 2024 global usage fell 3% to 160.6 mlbs when compared to Q3, 2023, with a fall of 5% in Europe, 7% in USA, 10% in both Other Regions and CIS and 2% in Japan. China was the only region to see a rise in usage, 1%, when compared to the same quarter of the previous year. When compared to the previous quarter (Q3, 2024), global usage fell by 2%, with a fall of 3% in China and Japan, 5% in USA and 6% in CIS. Usage in Other Regions remained mainly static, while Europe saw the only rise, 2%, in usage.

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• [Editor:tianyawei]