Strong FeMo market boosts China Molybdenum’s profits

The uptick in Chinese ferromolybdenum prices has given a strong lift to the performance of Shanghai-listed China Molybdenum Co (CMOC), the country’s top molybdenum producer headquartered in North China’s Henan province.

According to the company’s third quarter report released on October 30, during January-September CMOC recorded a stunning 155.9% jump in its on-year net profits to reach Yuan 4.1 billion ($594 million), mainly thanks to the burgeoning prices its major products, especially those of its molybdenum products, the company noted. Data from Mysteel’s database showed