Statistics released by the International Molybdenum Association (IMOA) show that worldwide production and use of molybdenum dropped significantly during 2009 because of the global recession. Between 2005 and 2008, production throughout the world had risen steadily, peaking in 2008 at almost 502 million lbs. But in 2009, it fell to 466.5 million lbs. Molybdenum use increased steadily to 469 million lbs by 2008. However, in 2009 it fell back to 410 million lbs, only slightly above 2005 use levels. Tim Outteridge, Secretary-General of IMOA, said that cut backs in capital expenditure in many end use segments, had led to a decline in molybdenum use in 2009, but indications in the first quarter of 2010 were that use was set to rise again year on year.
