UTC+8 ( BJT)

China's FeMo prices drop further on weakening sentiment

ABSTRACT

Over May 9-13, China's domestic price of ferromolybdenum (FeMo) under Mysteel's assessment continued to decline by a larger degree, as the bearish sentiment among both steelmakers and traders worsened, with most paring their prices, according to market sources.
As of May 13, the price of 60% FeMo in Liaoning in Northeast China, a core production hub for the noble alloy, slumped by Yuan 4,200/tonne ($618.7/t) on week to Yuan 177,800/t including the 13% VAT.   "Many FeMo traders chose to lower their offering prices to offload stocks as much as possible, betting that

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

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

FREE TRIAL
+65 6653 8227