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Platts reported that global molybdenum production rose to 529.8 million pounds in 2012, a new high, according to the International Molybdenum Association. Consumption came in at 520.9 million pounds, slightly down from 2011’s 522.1 million pounds.

Platts reported that global molybdenum production rose to 529.8 million pounds in 2012, a new high, according to the International Molybdenum Association. Consumption came in at 520.9 million pounds, slightly down from 2011′s 522.1 million pounds.

As quoted in the market news:

‘Global production reached a new high again in 2012, with China’s output significantly higher in contrast with other major producing areas. Global use was down fractionally but remained close to [2011’s] record-breaking figure,’ said Tim Outteridge, IMOA’s secretary-general, in a statement.

China was the largest consumer of molybdenum in 2012 at 183.2 million lb, compared with 177.6 million lb in 2011. Europe recorded the second-biggest share with 139.7 million lb, though this was down from 148.9 million lb in 2011, IMOA noted.

China was also the biggest molybdenum-producing area in 2012 at 207 million lb — eclipsing North America, the biggest producing area of 2011, where output slipped to 176.2 million lb from 183.1 million lb the previous year.

Click here to read the full Platts report.

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