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WEEKLY: China’s FeMo prices recover, buyers unmoved

ABSTRACT

China’s market for ferromolybdenum (FeMo) is showing signs of recovery following the country’s National Day holiday over October 1-7, with prices being pushed upwards by rising prices of moly oxide in the global market and the domestic smelters’ higher production costs.
According to Mysteel’s assessment, the price of 60% FeMo in Northeast China on October 9 had recovered by Yuan 2,000/tonne ($310.8/t) from September 30 to reach Yuan 155,000/t including the 13% VAT. October 9 was a make-up working day in China after the week-long National Day holiday. Prior to the holiday,

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