UTC+8 ( BJT)

China’s FeMo price stable, moly oxide buying up

The Chinese spot price of 60% grade ferromolybdenum (FeMo) hovered at Yuan 95,000-96,000/tonne ($14,053-14,201/t) over September 14-18, remaining largely stable from the prior week at a 2.5-month high. Buying of FeMo was not active last week, yet procurement of molybdenum oxide increased, especially after the appreciation of the Yuan against the US dollar, according to Mysteel’s weekly survey.
As of September 21, the concluded bidding volume of FeMo was over 5,500 tonnes, as against 4,500 tonnes as of September 11, according to data from www.comelan.com, an information portal for metallurgical raw materials. Comelan estimated that for the full month of September, the total bidding volume will be around 8,000-9,000 tonnes, around the normal

............

To read the full article take a free 7-day trial to Mysteel Global

FREE TRIAL
+65 6653 8227