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What is Ferromolybdenum?

Ferroalloy composed of molybdenum and iron, generally containing 50-60% molybdenum. Ferromolybdenum is an alloy of molybdenum and iron. Its main use is as an additive for molybdenum in steelmaking. Adding molybdenum to steel can make the steel have uniform fine-grained structure, improve the hardenability of steel, and help eliminate temper brittleness. In high-speed steel, molybdenum can replace part of tungsten. Molybdenum is widely used in combination with other alloying elements to produce stainless steel, heat-resistant steel, acid-resistant steel and tool steel, as well as alloys with special physical properties. Molybdenum added to cast iron can increase its strength and wear resistance.

Uses of Ferromolybdenum

The largest application of ferromolybdenum is in the production of ferroalloys, depending on the molybdenum content and range, which are suitable for machine tools and equipment, military equipment, refinery oil pipes, load-bearing parts and rotating drills. Ferromolybdenum is also used in cars, trucks, locomotives, ships, etc. In addition, ferromolybdenum is used in stainless steel and heat-resistant steels that are employed by synthetic fuel and chemical plants, heat exchangers, generators, refinery equipment, pumps, turbine pipes, ship propellers, plastics and acids, and storage containers. Tool steels have a high proportion of ferromolybdenum in the range and are used for high-speed machined parts, cold-working tools, drills, screwdrivers, dies, chisels, heavy castings, balls and large drill bits for rolling mills, rolls, cylinder blocks, piston rings.

Ferromolybdenum MarketInternational Standards for Ferromolybdenum

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Ferromolybdenum market price

Although the tender volume of ferromolybdenum steel mills in May decreased slightly from the previous month, it continued to exceed 10,000 tons. The production of back-end factories was stable, and the output of some recently put into production factories increased. The output of ferromolybdenum in May was 19,795 tons, an increase of 845 tons from the previous month, and the operating rate was 59.89%, an increase of 2.55%.

The capacity of the Inner Mongolia and Jilin factories has been gradually released, mainly based on order production. The Inner Mongolia factory has undertaken some external processing business, and the processing output is relatively large. The demand for ferromolybdenum is stable, and the output is expected to remain high in June.

RegionalOutputChangeRate
East China1445+31564.22%+14%
Henan6955+15057.72%+1.25%
Northeast11395+38060.77%+2.02%
Total19795+84559.89%+2.55

Price trend chart of ferromolybdenum in China from January 1 to June 5, 2024.

In May, affected by the sharp rise in molybdenum prices, slow terminal acceptance, local delayed purchases due to failed bids, and increased purchases of scrap steel, the tender volume of ferromolybdenum was 104.1 million tons, which was significantly lower than the previous month. In early May, affected by the rise in raw material prices, the price of ferromolybdenum rose rapidly from 230,000 yuan/ton to above 240,000 yuan/ton, and local quotations gradually approached 250,000 yuan/ton. However, the game between supply and demand was fierce, and terminal steel mills gradually accepted prices of around 240,000 yuan/ton. The high cost pressure was relatively large, and the price of ferromolybdenum fell slightly in the middle of the month, but in the second half of the month, the price of molybdenum concentrate jumped to more than 3,900 yuan/ton, and the cost of ferromolybdenum rose to more than 250,000 yuan/ton. The psychological price of terminal steel mills rose, and some transactions were higher than the acceptance of 250,000 yuan/ton, but the overall acceptance was limited. The demand release was limited at the end of the month, the price of ferromolybdenum fell, the raw materials remained firm, the cost inversion was obvious, and the market was in a stalemate.

Demand is expected to decrease slightly in June, but raw materials are concentrated, supply is tight, and market funds are abundant, so molybdenum prices are expected to remain high overall.

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