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


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%


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