China's FeMo prices recover on cost support

China's prices of ferromolybdenum (FeMo) have recovered since the start of this month, as domestic smelters have leveraged higher prices of moly concentrate, the crucial raw material, to argue that customers must help offset their increased production costs, Mysteel Global learned.

On December 10, Mysteel assessed the price of 60% FeMo in Northeast China, a major production hub for the noble alloy, at Yuan 238,000/tonne ($33,707/t) including the 13% VAT, higher by Yuan 6,000/t from the end of November. On the same day, Mysteel also assessed the price of moly concentrates with 45%