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China’s price of ferromolybdenum (FeMo) remained unchanged on week at Yuan 113,000/tonne ($17,424.6/t) including the 13% VAT as of April 23, according to Mysteel’s assessment. The firmness of the price was attributed to the improved buying interest among domestic stainless mills rebuilding inventory of FeMo before the Labour Day holiday over May 1-5, a market source said on Monday.
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The offering price of 60% ferromolybdenum (FeMo) in Northeast China, a key production region for the noble alloy, remained stable for the most part last week though it retreated by Yuan 1,000/tonne ($153.3/t) on week to Yuan 113,000/t as of April 16, according to Mysteel’s latest report. The price was mainly dragged down by weakened demand from China’s mills and the falling prices of moly oxide in other Asian countries.
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The price of 60% ferromolybdenum (FeMo) in Northeast China, a key production and trading hub of the ferroalloy, increased to Yuan 114,000/tonne ($17,396/t) including the 13% VAT as of April 9, up by Yuan 3,000/t on week and bringing an end to the downtrend since mid-March, according to Mysteel’s assessment. The rise was mainly due to the higher prices of raw materials, sources said.
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The price of 60% ferromolybdenum (FeMo) in Northeast China, a key production hub of the noble alloy, declined by Yuan 1,000/tonne ($152.5/t) on day to Yuan 111,000/t including the 13% VAT as of last Tuesday, and stayed unchanged for the rest of the week. Moly market watchers said active bidding from Chinese mills and the rebound in global prices of molybdic oxide had helped prop up the price.
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The price of 60% ferro-molybdenum in Northeast China, a key production region for the alloy, dipped for the third week over March 22-26, easing by Yuan 2,000/t on week, according to Mysteel’s assessment. Last week, China’s major smelters lowered their offering prices of FeMo by Yuan 3,000/t on week to Yuan 110,000-113,000/t including the 13% VAT, on noting the weakened market sentiment.
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The price of ferromolybdenum (FeMo) in China declined to a one-month low of Yuan 114,000/tonne ($17,521.8/t) including the 13% VAT by March 19, mainly as a consequence of sliding bidding prices submitted by domestic steel mills last week, according to Mysteel’s latest survey.
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The price of 60% ferromolybdenum (FeMo) in Northeast China, a key production hub of the noble alloy, last week came off the one-year high it achieved the previous week, declining to Yuan 115,000/tonne ($17,675.5/t) including the 13% VAT as of March 12, down Yuan 1,000/t on week. Mysteel’s latest weekly survey found that steelmakers were bidding at lower prices in reaction to softening sentiment.
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The price of 60% ferromolybdenum (FeMo) in Northeast China, the key production region for the ferroalloy, remained unchanged on week at its one-year high of Yuan 116,000/tonne ($17,817.6/t) including the 13% VAT as of March 5, according to Mysteel’s latest weekly survey. Although high production costs propped up the FeMo prices, most mills’ buying interest softened to some extent compared with the previous week.
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China’s price of 60% ferromolybdenum (FeMo) refreshed its one-year high of Yuan 116,000/tonne ($17,945.2/t) including the 13% VAT as of February 26, according to Mysteel’s assessment. Higher production costs and improved demand had supported the increase, respondents to Mysteel’s latest weekly survey said.
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The price of ferromolybdenum (FeMo) in China reached a one-year high as of February 20, mainly due to a rise in production costs and the climb in FeMo prices in the global market, according to Mysteel’s latest survey. Saturday was a compensatory working day in China.
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Climbing global prices of ferromolybdenum (FeMo) led the domestic price of the ferroalloy in China to climb to an eight-month high as of February 5, according to market sources, though the domestic market turned dull just a week ahead of the Chinese New Year (CNY) holiday.
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Domestic prices of ferromolybdenum (FeMo) across China remained largely stable over the past week after the decline in the week ending January 22, according to Chinese market sources. Though the smelters had been defending their offering prices, these were higher than the steel mills were ready to accept, with the result that spot trading of the ferroalloy was slack last week.
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China’s price of 60% ferromolybdenum (FeMo) in Northeast China, a key production and trading hub of the noble alloy, declined for the second week last week, down by Yuan 1,000/tonne ($154.6/t) on week to Yuan 103,000/t including the 13% VAT as of January 22. The overall market sentiment turned bearish during the past week and buying among steel mills was slack.
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The price of 60% ferromolybdenum (FeMo) in Northeast China, a key production hub for the ferroalloy, reversed down from an eight-month high on January 8, declining by Yuan 500/tonne ($77.2/t) on week to Yuan 104,000/t including the 13% VAT as of January 15, according to Mysteel’s assessment. The market was firmly in wait-to-see mode last week amid uncertainties brought about by the resurgence of the COVID-19 epidemic and with the Chinese New Year (CNY) holiday less than four weeks away.
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The auto production among China’s 15 major automakers declined 27.4% on year to 523,000 units over January 1-10, according to the latest data from China Association of Automobile Manufacturers (CAAM) on January 14, which was mainly due to the growing shortage of auto semiconductors and the manufacturers’ relaxation on output at the start of the year, according to market sources.
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The price of 60% ferromolybdenum (FeMo) in Northeast China, a key production region for this noble alloy, touched its eight-month high of Yuan 104,500/tonne ($16,151/t) including the 13% VAT as of January 8, or up Yuan 4,500/t on week, mainly due to further rises in higher moly concentrates prices, according to Mysteel’s latest weekly survey.
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Higher production costs led the price of 60% ferromolybdenum (FeMo) in Northeast China, a key production region for the alloy, to continue climbing last week. The price hit a near seven-month high of Yuan 10,300/tonne ($1,577.3/t) on December 22 and stayed at the threshold of Yuan 10,000/t until December 25, both including the 13% VAT. Buying became active last week after two quiet weeks, according to Mysteel’s latest weekly report.
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The price of 60% ferromolybdenum (FeMo) in Northeast China, the key production region for the alloy, rebounded by Yuan 1,000/tonne ($152.9/t) on week to Yuan 98,000/t including the 13% VAT as of December 18, after staying unchanged over the prior week. Higher production costs had supported the increase, while market transactions remained quiet last week.
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The price of 60% ferromolybdenum (FeMo) in Northeast China, a key production hub of the noble alloy, stood firm on week at Yuan 97,000/tonne ($14,809/t) including the 13% VAT as of December 11, after softening for the prior two weeks. Market uncertainty earlier about how the price would move was dispelled late last week with a major steelmaker’s latest bid for December delivery and offers from leading miners for their moly concentrates.
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China’s price of 60% ferromolybdenum (FeMo) in Northeast China, a key production and trading hub of the noble alloy, declined for the second week, down another Yuan 1,000/tonne ($153/t) on week to Yuan 97,000/t EXW and including the 13% VAT as of December 4, and the trading had been thin as buyers had been on the sidelines, awaiting clearer signs from the market, according to Mysteel’s latest weekly survey.
