Molybdenum prices continue rising with optimistic outlook
Time:Fri, 13 Jan 2023 07:38:34 +0800
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Due to the decreased supply and increased demand, the price of molybdenum kept soaring. China’s ferromolybdenum prices have surged by 93% in the past year.
According to market participants, as new application fields of molybdenum steel expand gradually and there will be little new production capacity in the next three years, molybdenum price was expected to move on an upward trend. Besides, driven by the steady growth of demand, the price of molybdenum continues to rise.
Molybdenum is a high-performance strategic metal. It is often added as an alloying element to special steel and stainless steel due to its properties of high strength, high-temperature resistance, and low density.
