from The Century Dictionary and Cyclopedia
- n. A chemical mixture of iron and molybdenum, prepared by melting pure metallic molybdenum and adding to it the required percentage of metallic iron: used principally in making steel for gun-forgings.
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Molybdenum is added to steel either as powdered molybdenum or in the form of ferromolybdenum, an alloy containing 60 to 70 per cent of the metal.
Molybdic oxide and ferromolybdenum producers are expected to match supply with real demand next quarter, fearing that any excess will push prices back down below $10/lb (where the prices were from December through May).
China also raised the export tax on ferrochromium, ferronickel, ferromolybdenum and ferrotungsten to 20 percent in early 2008, he said.