US molybdenum production up in first quarter

US molybdenum concentrate production increased by 5pc in the first quarter from a year earlier on greater shipments and fewer exports.

US molybdenum concentrate production rose to 10,400t in the first quarter, up from 9,920t a year earlier, according to the US Geological Survey.

Shipments of molybdenum concentrate increased by 6pc to 10,500t over the same period.

Total US consumption of molybdenum products was up by 2pc to 3,9800t in the first quarter, rising from 3,910t from the prior year. Consumption of molybdenum oxide edged up to 1,914t from 1,880t, while ferro-molybdenum demand increased by 7pc to 821t.

Stocks of molybdenum products grew to 1,750t on 31 March, from 1,710t from a year prior.

The US imported 14pc more for a total of 16,400t by gross weight of molybdenum products in the first quarter. Greater ferro-molybdenum imports were largely responsible for the rise. Imports of the alloy over doubled to 3,130t by gross weight.

The US exported 9,440t of molybdenum ores and concentrates by content in the quarter, down from 10,000t a year earlier, on lower volumes sent to the Netherlands and Belgium.