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[Ferro-Alloys.com]The price of ferromolybdenum has recently returned to its highest level after a wave of gains in the last year, hitting a five-year high. After the Spring Festival, molybdenum raw materials in China continues to rise. To date, the price of molybdenum concentrate has reached a five-year high of RMB 1,700 /mtu, up 4.62%.The quotation of ferromolybdenum for some factory increases with the cost of raw materials, and the acceptance price in local area is RMB120,000 /ton. Today’s ferromolybdenum reference price from Ferro-Alloys.com was at RMB 115,000-119,000 /ton.

Recently, international molybdenum price continues to to fall, there are shortages of the overall spot supplies. Molybdenum raw materials supply remains tight and Ferromolybdenum price will remain high.

In the same period, the steel market is not good enough, which will affect the bidding of steel mills.Most ferro molybdenum factories now have enough orders, plus high-price raw materials, it is expected that manufacturers ’quotation for ferromolybdenum will remain high.

E-mail：jianglijuan@ferro-alloys.com     Tel：18201012397

• [Editor:Jiang Li Juan ]