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China FeMo prices retreat on less buying, weak sentiment

ABSTRACT

Chinese prices of ferromolybdenum (FeMo) began to decrease over August 30-September 3, mainly reflecting reduced buying by domestic steel mills and traders’ bearish sentiment, according to market sources.
As of September 3, the price of 60% FeMo in Northeast China, a topproduction hub of the noble alloy,had declined to Yuan 162,000/tonne ($25,110/t) including the 13% VAT, Mysteel’s assessment showed, lower by Yuan 2,000/t on week. Also, the price had come off the 11-year high of Yuan 165,000/t reached

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