Ferromolybdenum prices in the Chinese market have risen continuously, with a cumulative increase of 19.9% ​​since July and August. 

The main reasons for the surge in ferromolybdenum prices were, first of all, the continued rise in US inflation, which had no negative impact on the Fed's interest rate cuts and led to a weakening of the US dollar. The other factor was that China imported 295 tons of ferromolybdenum in July, a year-on-year decrease of 2.32%. Cumulative imports from January to July this year reached around 3,116 tons, a year-on-year decrease of 26.74%, indicating a tightening supply situation. 

In addition, China's molybdenum mines have limited production capacity due to environmental restrictions and equipment maintenance. Market participants believed that the upward trend is likely to continue in the short term.