China’s FeMo prices decline further on slack buying

The price of ferromolybdenum (FeMo) in China under Mysteel’s survey headed south for the second week over September 6-10, mainly was the result of domestic steelmakers’ growing disinterest in buying because of the steel production curbs they’re under, according to market sources.

As of September 10, the price of 60% FeMo in Northeast China, a key production hub for the ferroalloy, had decreased to a one-month low of Yuan 161,000/tonne ($24,987.2/t) including the 13% VAT, lower by Yuan 1,000/t on week, Mysteel’s assessment showed. “Last week, some major steel mills chose to