Higher costs push China's FeMo prices to 38-month high

China's prices of ferromolybdenum (FeMo) have soared recently, mainly due to strong cost support from higher prices of moly concentrates and steady demand from steel mills, Mysteel Global learned.

On May 13, Mysteel assessed the price of 60% FeMo in Northeast China, a major production hub for the noble alloy, at Yuan 328,500/tonne ($48,376/t) including the 13% VAT, surging by Yuan 30,500/t on week and recording the highest since March 1 2023. The fast rise in moly concentrate prices was the