According to statistics from the International Molybdenum Association (IMOA), global molybdenum production reached 639.7 million pounds (mlbs) in 2024, a year-on-year growth of 2%. Global usage also increased by 3% year on year to 648.4 mlbs.

China was still the top producer with the output of 294.8 mlbs, up by 5% year on year. South America was the second-largest producer with 174.7 mlbs, rising by 4%. North America's production rose by 1% to 114.5 mlbs, while other regions had a 10% decrease to 55.7 mlbs.

In terms of usage, China had the biggest increase, up by 10% to 305 mlbs. Usage in the US remained stable at 64 mlbs. Europe experienced a 2% decrease in usage to 122.3 mlbs, and other regions had a 1% drop to 92.1 mlbs.