Low bid prices drag China’s FeMo price to 23-month low

As of November 12, the domestic price of 60% ferromolywas assessed at Yuan 98,000/tonne ($13,961/t) including the 13% VAT, down by another Yuan 5,000/t on week and touching the lowest level since the Yuan 96,000/t was reached on December 12 2017, according to Mysteel’s database. Trading activity in the domestic ferromoly market has seen some recovery