China's FeMo prices climb to near two-year high

China's prices of ferromolybdenum (FeMo) continued to firm this week, with the price of 60% FeMo in Northeast China, a major production hub for the noble alloy, reaching Yuan 275,000/tonne ($3,835/t) including the 13% VAT as of August 14, higher by Yuan 4,000/t on week and the highest since September 20 2023, according to Mysteel's assessment.

Domestic FeMo smelters are trying to raise their offering prices, as their smelting costs have increased with the further growth in prices of moly concentrates, Mysteel Global learned. On August 14, Mysteel assessed the price of moly concentrates with 45% Mo content in Central China's Henan province at Yuan 4,365/mtu including