Ferromolybdenum| Brief Knowledge and Market Information

Introduction

 Ferromolybdenum is an alloying additive in the steel industry, which is composed of iron and molybdenum mainly. The role of molybdenum in steel can be summarized as improving hardenability, heat strength, preventing temper brittleness, improving remanence and coercive force, corrosion resistance in certain media, and preventing pitting corrosion tendency, etc.
Moreover, the characteristics of ferromolybdenum make it have an extra layer of protective film on other metals, which is suitable for various products. We can imagine that carbon, chrome, and other elements have strengthened the flesh of steel, and molybdenum has also reinforced the skin.

Application
  The major application of ferromolybdenum lies in the production of ferroalloys. According to the content and range of molybdenum. It is versatile for machine tools and equipment, military equipment, oil refinery oil pipes, load-bearing parts and rotary maneuvers.  

  Used in cars, trucks, locomotives, ships, etc. The brake wheels and brake pads of heavy vehicles, the chassis and bumpers of automobiles, piston rings, synchronous parts of gearboxes, gear selection forks, the thermal spraying materials of automobile parts basically contain molybdenum as well.

  Tool steels with a high proportion of ferromolybdenum range, used for high speed machining parts, cold work tools, drills, screwdrivers, dies, chisels, heavy castings, balls and mills, rolls, cylinder blocks, piston rings large drill bits.

Market Trends
The price of ferromolybdenum, Mo 65-70%, soared at the beginning of 2023. In February, the price almost hit 100usd/kg. Into March, the price dropped 30usd/kg, and now going up again, at 58-60usd/kg. The highest price is 96usd/kg in February, and the lowest is 48.1usd/kg in April.

The chart illustrates the price index from 9th June 2022 to 21st April 2023. A dramatic rise and decline occurred in two months, which is related to the volatility of the molybdenum ore market. Chile is one of the essential production lands of molybdenum ore, and now the output is under restriction by its government with the concern of environmental protection. The demands are expanding but the stocks are low. The price of ferromolybdenum will keep going up.

For further information on prices and markets, please get in touch with Hainan West Asia Group Co.

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