Japanese Steelmakers Opt for Moly Oxide Over Ferromoly Due to Wide Price Spread

Platts reported that Japanese steelmakers are opting to use molybdenum oxide instead of ferromolybdenum due to the wide price spread between the two materials. One Japanese steelmaker reportedly decided to halve its ferromoly consumption by switching to moly oxide, which was priced at around $3 per kilogram less.

As quoted in the market news:

The global moly oxide price at $8-$8.07/lb ($17.60- $17.75/kg) Wednesday, and Japan’s spot import price of ferromoly at $20.80-$21/kg CIF Thursday. The spread between moly oxide and ferromoly prices ranged from $2-$3/kg in February as well.

Click here to read the full Platts report.