[ Molybdenum ]
[ Molybdenum ]
Global moly production and use rises in 2023
Molybdenum is added to alloy steels to improve strength , toughness , hardenability and weldability . In stainless steel and superalloys , it improves corrosion resistance and hightemperature performance .
Text by IMOA Molybdenum-copper mine in the city of Erdenet , Mongolia .
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 .
IMOA is a non profit trade association , representing the majority of the molybdenum industry worldwide . For more information visit www . imoa . info