UTC+8 ( BJT)

WEEKLY: China’s FeMo price falls $309/t on lower demand

ABSTRACT

Over September 13-17, China’s price of ferromolybdenum (FeMo) under Mysteel’s assessment stayed on the downtrend for the third week, or down another Yuan 2,000/tonne ($309.4/t) on week, as demand from the domestic end-users with stainless steel producers in particular subsided amid the wide-range steel output cuts, market sources remarked.
As of September 17, the price of 60% FeMo in Northeast China, a key production base, fell to Yuan 159,000/t including the 13% VAT, or the lowest since August 3, as over the past week, domestic steel mills’ FeMo procurement stayed subdued, though it was up Yuan 64,000/t or 67.4%

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

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

FREE TRIAL
+65 6653 8227