According to the latest data from international molybdenum association (IMOA), the global molybdenum production in the second quarter of 2019 is 64,864 tons, with a year-on-year growth of 4% in the first quarter of 2019 and 3% in the second quarter of 2018. In the second quarter of 2019, the global consumption of molybdenum was 67,585 tons, a year-on-year increase of 9% and a decrease of 1%.
China remains the world's largest producer of molybdenum, producing 23,042 tonnes in the second quarter of 2019, down 1 per cent from the previous quarter and up 2 per cent year-on-year. The production of molybdenum in South America was 19,958 tons, ranking the second, with a month-on-month increase of 2% and a year-on-year decrease of 5%. Molybdenum 17463 tons from North America, up 15% on the previous month and 18% on the previous year. The output of molybdenum in other countries was 4445 tons, up 1% from the previous month and down 1% from the previous year.
China is still the world's largest consumer of molybdenum. In the second quarter of 2019, China's consumption of molybdenum was 24,857 tons, up 23% on the previous quarter and down 3% on the previous year. The consumption of molybdenum in Europe was 17,282 tons, up 2% month-on-month and 2% year-on-year. The consumption of molybdenum in other countries was 9979 tons, with a month-on-month increase of 1% and a stable year-on-year change. The consumption of molybdenum in Japan was 6,940 tons, up 11% on a month-on-month basis and 5% on a year-on-year basis. The consumption of molybdenum in the United States was 5,897 tons, down 4% year on year and 16% month on month. The consumption of molybdenum in cis was 2,631 tons, up 4% month-on-month and 8% year-on-year.
According to IMOA, global molybdenum concentrate production (equivalent to 45% molybdenum concentrate) was 576,000 tons in 2018 and 569,000 tons in 2017. Overall output was flat. The production of molybdenum concentrate in China accounted for 35%. The total production of molybdenum concentrate in China in 2018 was 218,700 tons (45% molybdenum concentrate), an increase of 4.6% year on year. Some analysts predict that the increment of molybdenum concentrate in China in 2018-2022 is 15,000 tons of metal, with compound growth rate of 3.8%.
In addition, China is a major driver of global molybdenum consumption growth. From 2000 to 2018, China's primary molybdenum demand increased from 12,000 tons (metal quantity) to 93,000 tons, with a compound annual growth rate of 11.9%. That compares with a compound annual growth rate of just 1.1% for the rest of the world excluding China.
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