Ferromolybdenum (FeMo) is an iron alloy with molybdenum and iron as the core components. As a key functional material in the metallurgical field, it is widely used in steel smelting and high-end manufacturing due to its core advantages of high hardness, high strength and high corrosion resistance, and is one of the core additives to improve steel performance.
The appearance characteristics of ferromolybdenum are highly recognizable. It presents a silvery white metallic texture under normal conditions, but its surface is easily oxidized by air. After oxidation, it will show various colors such as blue, purple and yellow; its cross-section has no obvious luster and presents a dull texture; in actual delivery, ferromolybdenum is mostly presented in block form, with a conventional block size range of 10-150mm, which can be adjusted according to downstream production needs.
The core physical properties determine the application value of ferromolybdenum, including: density of 8.2g/cm³, melting point as high as 2620℃, which can adapt to high-temperature smelting environment; weak response to magnetic field, with a certain degree of diamagnetism; at the same time, it has excellent electrical and thermal conductivity, and is a high-quality alloy material that balances structural strength and electrical conductivity.
In terms of chemical properties, ferromolybdenum has excellent corrosion resistance, which can effectively resist the erosion of acids, alkalis and other chemical substances, making it suitable for steel manufacturing under harsh working conditions; however, it should be noted that ferromolybdenum is prone to oxidation reactions in high-temperature environments. When the temperature exceeds 1000℃, it will gradually oxidize and affect its performance, so high-temperature protection should be done well during storage and use.
The specification division of ferromolybdenum is mainly based on molybdenum content. At present, the mainstream specifications in the market are FeMo60 series and FeMo70 series. The impurity content of different specifications strictly follows industry standards. The specific parameters are as follows (Unit: %):
| Grade | Molybdenum (Mo) | Silicon (Si) | Sulfur (S) | Phosphorus (P) | Carbon (C) | Copper (Cu) | Antimony (Sb) | Tin (Sn) |
| FeMo60 | ≥65.0 | 2.0 | 0.10 | 0.05 | 0.15 | 0.5 | 0.04 | 0.04 |
| FeMo60A | 55.0-65.0 | 1.0 | 0.10 | 0.04 | 0.10 | 0.50 | 0.04 | 0.04 |
| FeMo60B | 55.0-65.0 | 1.5 | 0.10 | 0.05 | 0.10 | 0.50 | 0.05 | 0.06 |
| FeMo70 | 65.0-75.0 | 1.5 | 0.10 | 0.05 | 0.10 | 0.50 | – | – |
The application scenarios of ferromolybdenum are closely bound to the development of modern industry. The core application areas include three major sectors: first, the manufacture of stainless steel and acid-resistant steel. As a key additive, ferromolybdenum can significantly improve the corrosion resistance and strength of steel, and the molybdenum content in conventional stainless steel is about 2%-4%; second, the manufacture of high-temperature pressure vessels. After adding ferromolybdenum, the high-temperature strength, toughness and plasticity of steel can be improved, adapting to high-pressure and high-temperature working environments; third, the oil drilling field. Mining tools made of ferromolybdenum alloy have excellent wear resistance and corrosion resistance, and can adapt to complex working conditions during drilling.
The ferromolybdenum industry ushered in important development opportunities in 2026. The latest industry dynamics show that the global ferromolybdenum market presents a tight supply-demand balance pattern, and the annual supply-demand gap is expected to reach 44,300-50,000 tons. This structural shortage will continue until 2030. In terms of price trend, as of March 5, 2026, the domestic FeMo60 quotation range is 282,000-284,000 yuan/ton, with an average price of 283,000 yuan/ton, an increase of 1,000 yuan/ton from the previous trading day, showing a mild upward and active trading trend.
Industry analysis points out that the price center of ferromolybdenum will continue to move up in 2026. The average annual price of FeMo60 is expected to be 270,000-290,000 yuan/ton, and it is expected to break 300,000 yuan/ton in the peak season of the third quarter, and may reach 320,000-350,000 yuan/ton under optimistic expectations. The core logic of the price increase includes: the high price of upstream molybdenum concentrate drives the increase of smelting costs; the resumption of work of downstream stainless steel and special steel enterprises accelerates, the bidding volume gradually increases, and the demand for rigid replenishment continues to be released; at the same time, the demand for ferromolybdenum in new energy and high-end manufacturing fields is growing rapidly, among which the demand for molybdenum for photovoltaic HJT targets is increasing by 60%, further driving the industry demand.
On the supply side, the current ferromolybdenum market presents a rigid contraction trend. Domestic molybdenum ore mining is affected by the normalization of environmental protection and safety inspections, small and medium-sized production capacity continues to be cleared, and phased maintenance of major mines further reduces supply; coupled with the high operation of upstream molybdenum concentrate prices, smelting enterprises’ quotations are prone to rise and difficult to fall, and the spot circulation volume is limited. In addition, ferromolybdenum production in some parts of the world has declined, further exacerbating the global supply tension.
At the macro level, the continuous global geopolitical conflicts have disturbed the energy supply chain, pushing up the risk premium of strategic metals; the US dollar index fluctuates weakly, and the interest rate cut expectation provides support for US dollar-denominated commodities, and funds continue to tilt towards industrial metals and strategic resources. The resonance of multiple positive factors drives the steady rise of ferromolybdenum prices.