SMM Data: China’s Molybdenum Iron Output In August And Forecast For September

SHANGHAI, Sep 12 (SMM) – According to incomplete statistics from SMM, the production of molybdenum iron in China was approximately 16,700 mt in August 2023, showing a 5.6% increase MoM.

In August, the total bidding volume for molybdenum iron by major steel mills was about 12,000 mt, exceeding 10,000 mt for the fifth consecutive month. The low-priced molybdenum iron resources in the market have been mostly consumed, and the inventory of molybdenum iron was also at a low level. In order to meet the continuous demand for molybdenum iron from steel mills, molybdenum iron smelters were operating at full capacity, with most of them scheduling production for 20-30 days. Some smelters have also started new furnaces to increase output, resulting in a significant increase in molybdenum iron production this month.

In September, molybdenum-containing steel production has not decreased, and there is a possibility of advance stocking before the October Golden Week holiday. It is expected that the production of molybdenum iron will continue to increase slightly this month.