China's Ferromolybdenum Output In September And Forecast For October

SHANGHAI, Oct 11 (SMM) –

SMM data showed that Chinese ferromolybdenum output dipped 4% MoM to 16,200 mt in September. The main recipe for the drop was some production cuts or shut-down for regular one-to-two-week maintenance.

Bolstered by replenishment demand from steel mills before the National Day holiday, most ferromolybdenum smelters will extend their scheduled production into mid-to-late October. Furthermore, the smelters’ raw materials appeared ample. Therefore, there will be high likelihood of stable ferromolybdenum output in October. In addition, stainless steel production reduction starting October will exert negative impact on ferromolybdenum market, but to a limited extent.