UTC+8 ( BJT)

China’s FeMo prices surge further to 10-year high

ABSTRACT

The price of 60% ferromolybdenum (FeMo) in Northeast China, a key production region for this noble alloy, reached a ten-year high of Yuan 145,000/tonne ($22,649/t) EXW and including the 13% VAT as of June 11 after having risen drastically by Yuan 22,000/t on week, according to Mysteel’s regular survey. Market sources attributed the surging price to the ever-rising prices of moly oxide in the global market and higher production costs among Chinese miners.
The price of moly oxide in the European market continued to increase significantly last week, as concerns about supplies of moly concentrates – driven by Codelco’s disruptions to production – remain and showed no signs of easing, a Shanghai-based analyst observed. The highest transaction price of moly oxide assessed by

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