Output of Ferromolybdenum Rose 1,400 mt from February

SHANGHAI, Apr 11(SMM) - The domestic ferromolybdenum output stood at about 15,500 mt in March, up 1,400 mt or 9.93% from February. Domestic ferromolybdenum saw great increase in supply. The main reason was that on the one hand, with the end of the Spring Festival holiday, the production of ferromolybdenum enterprises returned to normal. In addition, as safety and environmental protection control has been eased in many northern cities, especially in Beijing-Tianjin-Hebei region, the overall operating rates of ferromolybdenum increased. On the other hand, downstream demand increased significantly. According to SMM statistics, the bid solicitation volume of China in March stood at 17,000 mt, an increase of 183% compared to February, with the significant increase in downstream demand boosting the output of ferromolybdenum.