Special use of ferromolybdenum
Ferromolybdenum, which has many special uses, from everyday stainless steel to military steel.
In 2020, the supply of ferromolybdenum in the global market will exceed demand, but in the middle of 2020, the price of ferromolybdenum will start to rise sharply, and the increase will exceed 60% in 2021, and the market will rebound strongly. By 2022 this year, ferromolybdenum will become scarce in some markets. Molybdenum oxide is also in short supply.
Molybdenum is not a widely traded metal, nor is it usually mined alone. Most molybdenum is produced as a by-product of copper mining. The main primary use of the metal is ferromolybdenum, which is used in the steel industry. Its properties Can improve the quality of steel used for oil drilling pipes as well as structural steel and stainless steel. It can withstand extreme temperatures without softening, making it ideal for military armor and aircraft components. The main sources of molybdenum and copper are Chile, Peru, Armenia and the United States, notably the Kennecott mine in Utah.