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.
