China’s Ferro-Molybdenum Output Skid in January 2023 but to Rebound in February

SHANGHAI, Feb 9 (SMM) - Two factors have caused the decrease in ferro-molybdenum output in January.

First, workers returning to their hometowns for CNY holidays resulted in a shortage of manpower at ferro-molybdenum smelters, so they were forced to lower their operating rates, thereby reducing the output. Second, limited molybdenum concentrate resources offered in the market prevented some private smelters from restocking sufficient raw materials in a timely manner, so the output of ferro-molybdenum decreased.

In February, the increase of available molybdenum concentrate resources, combined with the bid solicitation from steel mills, will boost the production enthusiasm of ferro-molybdenum smelters. The output of ferro-molybdenum is expected to rebound to 18,500 mt.