Molybdenum News Center

Ferromolybdenum Price Increases in End Oct.

The market of ferromolybdenum has been active these weeks, and the price is going up greatly. Ferromolybdenum producers keep the stock, and stop quoting for waiting a better price. Most factory do not manufacture the products now, as a result, the stock quantity is going down and act as stand-by.



Ferromolybdenum is consuming a lot in steel industry. The bidding price will be an influencing factor. Previously, the bidding result is mostly matching the price in market, even though there is an increasing, but still near to. Ferro is iron, so the content of ferro has been benefit element for steel production. Molybdenum is used to improve the properties of steel, such as become more acid-resistance, corrosion-resistance, and longer lifetime. Meanwhile, the adding of Mo element can improve its uniform fine grain structure and hardenability, eliminate temper brittleness. Mo element in cast iron can increase the strength and wearing resistance. It is a kind of metals with high melting point, and iron alloy combined with molybdenum and iron. The application is as additive in steel melting, with regular content of 50%~60%Mo. Using ferromolybdenum instead of molybdenum metal adding in steel smelting is mainly considering the cost. The raw material of molybdenum concentrate is still going up to 950RMB/mtu, which is the same trend for all molybdenum parts.

Ferromolybdenum is traded by irregular blocks with size of 10~150mm. This size is an average grain size, there are small part of size under 5%, or over 150mm. its main providers are China, Russia, USA and Chile.

Now the main ferromolybdenum is 69,000 to 71,000/ton based on 60% moly. More moly content, higher price. Even with this higher price, the factory is still not sale out their products in order to wait for higher price and better profit. As a result, the price is going up greatly, and can be reported as one day one price.

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