China's FeMo prices lose ground, sentiment softens

China's prices of ferromolybdenum (FeMo) have lost ground as market sentiment has weakened with the fall in bidding prices from steel mills, Mysteel Global learned.

On September 17, the price of 60% FeMo in Northeast China, a major production hub for the noble alloy, was assessed by Mysteel at Yuan 281,500/tonne ($39,607/t) including the 13% VAT, slipping by Yuan 9,500/t from the recent high on September 5. As most steel producers are trying to cut their FeMo procurement