Molybdenum production and use increase

Global use of molybdenum in Q2 2014 increased to 139.9 million lbs., up 3 percent from 136.1 million lbs. in the previous quarter and 4 percent higher than the same quarter in 2013, according to figures released by the International Molybdenum Association (IMOA), London.

Global production increased to 142.9 million lbs. for Q2, up 7 percent from 133.4 million lbs. in the previous quarter and 4 percent higher compared with the same period in 2013.

Usage in the U.S. increased by 7 percent to 15.8 million lbs. compared with 14.8 million in the previous quarter. North America eclipsed China as the biggest producer, with production rising from 43.7 million lbs. in Q1 2014 to 49.9 million lbs. in Q2, an increase of 14 percent from the previous quarter and an increase of 7 percent compared to the same quarter in 2013.

China remained the biggest user, with 47.6 million lbs. in Q2, an increase of 2 percent from 46.6 million lbs. in the previous quarter, but still 4 percent less than the 49.6 million lbs. recorded in the same quarter in 2013. Production in China also increased, from 44.1 million lbs. in Q1 2014 to 49.6 million lbs. in Q2, an increase of 12 percent.