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WEEKLY: China’s FeMo prices increase, sentiment diverges

ABSTRACT

China’s price of ferromolybdenum (FeMo) assessed by Mysteel climbed for the second week over October 11-15, propelled upwards by the smelters’ determination to defend their prices because of high production costs, market sources said.
The price of the 60% Mo FeMo in Northeast China, a key production and trading hub of the noble alloy in the country, had increased to Yuan 155,000/tonne ($24,087/t) including the 13% VAT as of October 15, rising by another Yuan 1,000/t on week, Mysteel’s data showed. Last week, domestic steel

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