Weak Demand Coupled with Industry Losses: Ferromolybdenum Operating Rate Hit a Yearly Low in October
SMM Report, October 31:The domestic molybdenum market in China saw a trend of first rising and then falling in October. Supported by the limited output release from mines, the price of molybdenum concentrate dropped only slightly. However, the ferromolybdenum market witnessed a sharp price decline due to the negative factors of weak downstream demand and loosened cost support, leading to significant industry losses.