China's FeMo prices to hover high on cost support, steady demand

China's prices of ferromolybdenum (FeMo) are expected to stay rangebound at relatively high levels for the immediate future, given the high production costs impacting the domestic smelters and steady demand for the ferroalloy from special steel producers, Mysteel Global learned.

On May 28, Mysteel assessed the price of 60% FeMo in Northeast China, a major production hub for the noble alloy, at Yuan 311,000/tonne ($45,850/t) including the 13% VAT. Though this was lower by Yuan 10,000/t on week, the price had recovered by Yuan 5,500/t from the recent low recorded on