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China's FeMo prices hit 4.5-month high on firm demand

ABSTRACT

Over January 10-14, Chinese prices of ferromolybdenum (FeMo) under Mysteel's survey increased further to a high since August 31 2021, suggesting still-robust restocking demand from steel producers and increasing production costs among smelters, according to market sources.
As of January 14, the price of 60% FeMo in Northeast China, a major production region for this noble alloy, had climbed to 162,000/tonne ($25,515/t) including the 13% VAT, surging by a large Yuan 6,000/t on week, according to Mysteel's survey.   Last week, domestic steel mills continued restocking FeMo to maintain smooth production during the Chinese New Year holiday

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