China's FeMo prices strengthen on cost support

China's prices of ferromolybdenum (FeMo) have strengthened recently, mainly thanks to the firming cost support from higher prices of moly concentrates, Mysteel Global learned.

As of September 16, the price of 60% FeMo in Northeast China, a major production hub for the noble alloy, was assessed by Mysteel at Yuan 342,500/tonne ($51,055/t) including the 13% VAT, jumping by Yuan 4,000/t on week and marking its highest level since February 28 2023. The tight supply of moly