Ferromolybdenum and Molybdenum Oxide Prices on September 27, 2023
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Price Chart for September 27, 2023
The reference chart for 27 September 2023 recorded European ferromolybdenum in the 65-70% Mo band at 55.3-55.4 US dollars per kilogram of molybdenum, with technical molybdenum oxide at 57% Mo quoted at 22.9-23.1 US dollars per pound of molybdenum. The two lines describe the same contained metal but on different weight bases, so they should be read as separate market references rather than as competing offers.
| Product | Specification | Lowest Price | Highest Price | Price Basis |
|---|---|---|---|---|
| Ferromolybdenum | 65-70% Mo, Europe | 55.3 | 55.4 | USD per kg Mo |
| Molybdenum oxide | 57% Mo | 22.9 | 23.1 | USD per lb Mo |
The spread between the low and high figures is narrow on both lines, which is typical of a market where offers are clustered around a widely accepted reference level.
What Ferromolybdenum Is
Ferromolybdenum is an iron alloy composed of molybdenum and iron. Commercial material generally contains 50 to 60% molybdenum, while the higher 65-70% Mo band is the grade used for the European benchmark quotation and for demanding steelmaking duties. Its principal function is to act as the molybdenum additive in steelmaking: the alloy is charged to the ladle or the furnace, where it dissolves and reports to the steel with high and repeatable recovery.
Because molybdenum has a strong affinity for carbon and a high melting point, delivering it through a master alloy rather than as pure metal keeps addition temperatures manageable and improves control over the final analysis, particularly in low-carbon heats.
Metallurgical Effects of Molybdenum in Steel
Adding molybdenum to steel produces a uniform fine-grained structure, improves hardenability and helps eliminate temper brittleness. In high-speed steel, molybdenum can replace part of the tungsten content, which is why molybdenum-bearing high-speed grades remain a major outlet for the alloy. Molybdenum is also widely used in combination with other alloying elements to produce stainless steel, heat-resistant steel, acid-resistant steel and tool steel, as well as alloys with special physical properties.
In cast iron, molybdenum additions raise strength and wear resistance. These effects explain why ferromolybdenum demand tracks the output of alloy steel and special steel rather than general carbon steel volumes.
Molybdenum Oxide and Its Uses
Molybdenum oxide at 57% Mo is the technical-grade raw material that sits upstream of the ferroalloy. It is consumed directly as a molybdenum source in some steelmaking routes, used as feed for the reduction processes that produce ferromolybdenum, and supplied to chemical and catalyst production. In the steelworks, the oxide is normally briquetted before charging so that fine powder is not lost in the off-gas and the molybdenum recovery stays high.
Upstream feed for ferromolybdenum production
Direct briquetted addition in selected steelmaking routes
Raw material for molybdenum chemicals and catalysts
Quoted internationally per pound of contained molybdenum
How the Two Price Lines Relate
Because oxide is the feedstock for the alloy, the two lines share a common driver and normally move together. The distance between them reflects conversion cost: energy, reductant, labour and the margin available to the plants that turn oxide into ferromolybdenum. When that distance narrows, conversion becomes unattractive and ferromolybdenum supply tightens; when it widens, supply becomes easier to secure.
A single day of assessments cannot establish a trend, but the 27 September 2023 reference is useful as a benchmark. Comparing it with later or earlier dates shows whether molybdenum units were becoming more or less expensive for the steel mill, which is the figure that ultimately lands in the cost per heat.
Unit Conversion and Comparison
With one pound equal to 0.4536 kilograms, the oxide quotation can be converted to a per-kilogram basis by dividing by 0.4536. The result is a rough equivalence only, since delivery terms, lot size and packaging differ between the two products. Buyers should also note that ferroalloy offers are conventionally quoted per kilogram of contained molybdenum in Europe, while oxide is quoted per pound of contained molybdenum.
Frequently Asked Questions
Q: What price levels were recorded for 27 September 2023?
European ferromolybdenum at 65-70% Mo was quoted at 55.3-55.4 USD per kg of molybdenum, and molybdenum oxide at 57% Mo at 22.9-23.1 USD per lb of molybdenum.
Q: How much molybdenum does ferromolybdenum contain?
Commercial ferromolybdenum generally contains 50 to 60% molybdenum, while the higher 65-70% Mo band used for European benchmark pricing is supplied for demanding steelmaking duties.
Q: Why is molybdenum added to steel?
It promotes a uniform fine-grained structure, improves hardenability and helps eliminate temper brittleness, and it can replace part of the tungsten in high-speed steel.
Q: Which steel types use molybdenum?
Stainless steel, heat-resistant steel, acid-resistant steel, tool steel, high-speed steel and certain cast irons are the main molybdenum-consuming families.
Q: What is the role of molybdenum oxide?
It is the upstream technical raw material, used directly in some steelmaking routes and as the feedstock for ferromolybdenum production, plus chemical and catalyst manufacturing.
Q: Are the two quoted ranges directly comparable?
No. The ferromolybdenum line is per kilogram of molybdenum and the oxide line is per pound, so a conversion using 0.4536 kg per pound is needed for an indicative comparison.
