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). Global usage rose 3% to 648.4 mlbs from 630 mlbs the previous year.
China remained the major producer of molybdenum in 2024 at 294.8 mlbs, up 5% from 281.8 mlbs in 2023. South America remained the second major 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.
China saw the major increase in usage, 10%, to 305 mlbs in 2024, when compared to 2023, while usage in the USA remained largely static at 64 mlbs. Europe saw a 2% decrease in usage to 122.3 mlbs, while Other Regions saw a 1% fall to 92.1 mlbs.