South America Surpasses China in Molybdenum Production and Becomes the Largest Molybdenum Producer in the World

According to the latest data from the International Molybdenum Association (IMOA), global molybdenum production in the second quarter of 2020 was 67,222 tons, an increase of 3% from the first quarter, and a 3% increase from the second quarter of 2019. In the first quarter, global molybdenum consumption was 57560.6 tons, an increase of 3% month-on-month, and a year-on-year decrease of 14%. South America surpasses China in molybdenum production and becomes the largest molybdenum producer in the world.

South America Surpasses China in Molybdenum Production

In the second quarter of 2020, South American molybdenum production was 2,2407.3 tons, an increase of 11% month-on-month, and 12% year-on-year. China has become the second-largest producer of molybdenum. The output of molybdenum in the second quarter was 2,1409.4 tons, a decrease of 1% month-on-month, and 8% year-on-year. Molybdenum production in North America was 16,692 tons, a decrease of 7% month-on-month, the largest decline, a year-on-year decrease of 3%. Molybdenum production in other countries was 6,713 tons, an increase of 26% month-on-month, and 39% year-on-year.

China is still the world’s largest molybdenum consumer and the only country in the world that has achieved growth in molybdenum consumption. In the second quarter of 2020, China’s molybdenum consumption was 26,716 tons, an increase of 46% from the previous month and 7% from the same period last year. Europe is still the second-largest molybdenum consumption area, with 11974.8 tons of molybdenum consumption, a decrease of 15% month-on-month, and 28% year-on-year.

Molybdenum consumption in Japan was 4,627 tons, a decrease of 20% month-on-month, and 28% year-on-year. Molybdenum consumption in the United States was 4,309 tons, down 25% month-on-month, and 34% year-on-year. Molybdenum consumption in the CIS countries was 1,451 tons, a decrease of 25% month-on-month, and a year-on-year decrease of 44%, the largest decline. Molybdenum consumption in other countries was 8,437 tons, down 17% month-on-month, and 13% year-on-year.

According to previous data, the global molybdenum production in the first quarter of 2020 was 63,139.7 tons, a month-on-month decrease of 8% and a year-on-year increase of 1%. In the first quarter, global molybdenum consumption was 56063.7 tons, a year-on-year decrease of 13%. China is the world’s largest producer and consumer of molybdenum. In the first quarter of 2020, China’s molybdenum production was 2,1636.2 tons, down 8% month-on-month and 6% year-on-year; molybdenum consumption was 1,8279.7 tons, down 31% month-on-month and 18% year-on-year.

Conclusion

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