SMM Analysis On China October Ferromolybdenum Production And November Forecast

Published: Nov 12, 2024 15:12

Source: SMM

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According to SMM statistics, China's ferromolybdenum production in October increased by approximately 2.6% MoM.

Recently, due to the higher-than-expected bidding procurement demand from steel mills and the low spot inventory of ferromolybdenum, new orders for ferromolybdenum smelters have been continuously increasing, and the production schedule has remained high, leading to a steady rise in ferromolybdenum production.

Looking ahead to November, the production schedule of downstream molybdenum-containing steel is expected to continue its upward trend. Since most steel mills still restock ferromolybdenum as needed and inventories are generally low, production demand is expected to further drive the increase in ferromolybdenum procurement, and ferromolybdenum production in November is expected to continue to rise.

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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