Domestic Ferromolybdenum Output Increased in May

SMM data shows that in May 2023, the domestic ferromolybdenum output was 15,000 mt, a growth of 5% from the previous month.

In May, the bid volume of ferromolybdenum by mainstream steel mills was about 12,000 mt, an increase of nearly 2,000 mt compared with April. The demand was strong.

In addition, the price of molybdenum stopped falling and rebounded, and the profits of ferromolybdenum smelters picked up. Therefore, the enthusiasm for production improved and the smelters arranged production for over a month.

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