China is the Main Driver of Global Molybdenum Production and Consumption Growth

According to the latest data from the International Molybdenum Association (IMOA), global molybdenum production in the second quarter of 2019 was 64,864 tons, up 4% from the first quarter of 2019, and 3% from the second quarter of 2018; global molybdenum consumption in the second quarter of 2019. 67,585 tons, an increase of 9% from the previous month and a decrease of 1% from the same period last year.

China is still the world's largest molybdenum producer. China's molybdenum output in the second quarter of 2019 was 230,42 tons, a decrease of 1% from the previous month and a 2% increase from the same period last year. South America's molybdenum production was 19958 tons, ranking second, up 2% from the previous month and down 5% from the same period last year. North America's molybdenum was 17,463 tons, up 15% from the previous month and up 18% year-on-year. In other countries, the output of molybdenum was 4,445 tons, an increase of 1% from the previous month and a decrease of 1% year-on-

And China is also the world's largest molybdenum consumer. China's molybdenum consumption in the second quarter of 2019 was 24,857 tons, up 23% quarter-on-quarter and 3% year-on-year; European molybdenum consumption was 17,282 tons, up 2% quarter-on-quarter and 2% year-on-year; other countries Molybdenum consumption was 9,979 tons, up 1% quarter-on-quarter and stable year-on-year; Japan's molybdenum consumption was 6,940 tons, up 11% quarter-on-quarter and 5% year-on-year; US molybdenum consumption was 5,897 tons, down 4% year-on-year and 16% quarter-on-quarter; The consumption of molybdenum in the CIS was 2,631 tons, an increase of 4% from the previous month and an increase of 8% from the same period last year.

According to IMOA data, global 2018 molybdenum concentrate production (equivalent to 45% molybdenum concentrate) was 576,000 tons, and in 2017 it was 569,000 tons. The overall output was flat. Among them, production in China accounted for 35%. In 2018, the total domestic production of molybdenum concentrate was 218,800 tons (45% molybdenum concentrate), an increase of 4.6%. Some analysts predict that the increase of molybdenum concentrate in China from 2018 to 2022 is 15,000 tons of metal, and the compound growth rate is 3.8%.

In addition, China is the main driver of global molybdenum consumption growth. From 2000 to 2018, China's primary molybdenum demand increased from 12,000 tons (metal amount) to 93,000 tons, and the annual compound growth rate was 11.9%. In addition to China, the annual compound growth rate is only 1.1%.