Molybdenum use hits new high

Global use of molybdenum has soared to a new high of 474 million lbs., surpassing the peak use in 2007 of 470 million lbs., according to new full-year figures from the International Molybdenum Association, London.

The greatest demand for molybdenum in 2010 came from China, where use increased from 119 million lbs. in 2009 to 148.5 million lbs. in 2010. The second-biggest user was Europe, with 113.9 million lbs. in 2010, up from 107.3 million lbs. in 2009.

The U.S. and Japan were the third- and fourth-largest users of molybdenum, accounting for 67.9 million and 60.9 million lbs., respectively.

North America was the largest producing region in 2010, with 173.2 million lbs., but China remained the largest producing country with 159.9 million lbs. South America was the third-largest molybdenum-producing region, accounting for 115.8 million lbs. in 2010. Other molybdenum-producing regions contributed 48 million lbs.