According to SMM statistics, China's ferromolybdenum production in November increased by about 4% MoM.
With generally positive profits for molybdenum-containing steel, steel mills continued to increase the planned production of molybdenum-containing steel. At the same time, steel mill ferromolybdenum inventories were generally at medium to low levels, leading to steel mill ferromolybdenum tender volumes exceeding 10,000 mt, prompting ferromolybdenum smelters to maintain high operating rates, resulting in a slight increase in market production.
Entering December, as the planned production of molybdenum-containing steel has not decreased this month and the year-end restocking phase has begun, steel mill procurement demand for ferromolybdenum is expected to be released intensively, with ferromolybdenum production expected to at least remain stable.
