Platts reported recently that some Japanese steelmakers are using more ferromolybdenum than molybdenum oxide in order to save on the production of chrome-moly steel for automotive applications.
As quoted in the market news:
So far this year, ferromoly had accounted for over 80% of the molybdenum feedstock consumption, sources at two electric arc furnace operators said, adding that price was a factor.
Supplier sources said moly oxide consumption by the two steel mills was almost nil this year with no spot cargoes having been bought. The mills consume 40-80 mt/month of molybdenum sourced from American and European suppliers on annual contracts.
The two mill sources said ferromoly was preferred because of lower costs.