Molybdenum production increases

Figures released by the International Molybdenum Association (IMOA) revealed that world-wide production of molybdenum continued to increase during the third quarter of 2010, although usage fell. In total, 132.2 million lbs of molybdenum was produced, an increase of over three million lbs from the previous quarter. Usage however, fell by five million lbs to 121.6 million lbs as a result of slower production in the steel making sector during Q3. The biggest producer and user of molybdenum during the quarter was China; they produced 43.6 million lbs and used 38 million lbs. North America came in a close second with 42.9 million lbs produced, followed by South America with 31.4 million lbs. Other molybdenum producing regions contributed 14.3 million lbs. Europe was the second biggest consumer, using 28.7 million lbs and the USA is in third with 17.6 million lbs. Japan consumed 15.8 million lbs, the CIS used 5.4 million lbs, and other consuming regions account for 16 million lbs.

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