China's FeMo prices ease to 6-month low

China's prices of ferromolybdenum (FeMo) have steadily declined of late, with the price of 60% FeMo in Northeast China, a major production hub for the noble alloy, reaching Yuan 232,000/tonne ($32,761/t) including the 13% VAT as of November 27, falling by Yuan 11,000/t on week and marking the lowest since the third week of May, according to Mysteel's assessment.

Domestic FeMo prices have recently come under pressure as speciality and stainless steel producers are trying to trim their procurement prices to reduce their production costs, Mysteel Global learned. The prices of molybdenum-containing steel products have remained generally weak. For example, on November 27 Mysteel assessed the spot price of