China’s FeMo prices drop on low bidding prices for Apr
Apr 08, 2020 19:30
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Chinese prices of ferromolybdenum (FeMo) continued to dip over March 30-April 3, undermined by the low buying prices proffered by domestic steel mills for this month, market sources said on Wednesday. The temporary suspension of operations at a moly mine in Helongjiang, North China’s Liaoning province, did not cause prices of moly concentrates or FeMo prices to rebound, as domestic smelters were able to secure other raw materials instead, Mysteel Global learned.
As of April 3, the domestic price of FeMo with 60%
content in Northeast China, a representative region for FeMo in China, reached
Yuan 99,000/tonne ($14,028.6/t) including 13% VAT, down by another Yuan 1,000/t
or 1% on week, according to Mysteel’s database.
“Most steel mills had re-entered the market in
these past two weeks, tabling