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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.
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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.
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China’s prices of ferromolybdenum (FeMo) declined for a fourth week over September 22-26 but at a faster pace than previously, according to Mysteel’s assessment. Market sources attributed the price slump to ongoing efforts by domestic stainless steelmakers to cut their bidding prices while clamps remain on their steel output.
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Over September 13-17, China’s price of ferromolybdenum (FeMo) under Mysteel’s assessment stayed on the downtrend for the third week, or down another Yuan 2,000/tonne ($309.4/t) on week, as demand from the domestic end-users with stainless steel producers in particular subsided amid the wide-range steel output cuts, market sources remarked.
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The price of ferromolybdenum (FeMo) in China under Mysteel’s survey headed south for the second week over September 6-10, mainly was the result of domestic steelmakers’ growing disinterest in buying because of the steel production curbs they’re under, according to market sources.
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Chinese prices of ferromolybdenum (FeMo) began to decrease over August 30-September 3, mainly reflecting reduced buying by domestic steel mills and traders’ bearish sentiment, according to market sources.
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The price of ferromolybdenum (FeMo) in China assessed by Mysteel continued to firm over the past week, mainly prompted by smelters’ high production costs. However, the prices of both FeMo and moly concentrates showed signs of weakening late last week when market sentiment began wavering, market sources said.
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Domestic prices of ferromolybdenum (FeMo) in China under Mysteel’s survey still hovered high over the week of August 16-20, mainly kept aloft by the sound demand from steel mills and the higher production costs FeMo smelters are facing with the climb in raw materials prices, sources said.
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The domestic price of ferromolybdenum (FeMo) in China has continued to post on-week gains since late July and climbed further over August 9-13, Mysteel’s latest survey showed. The surging prices mainly reflected the firm demand of domestic steelmakers, the historically high prices of moly concentrates and the stronger moly oxide prices in the global market, according to market sources.
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Domestic ferromolybdenum (FeMo) prices in China under Mysteel’s assessment climbed further over August 2-6, many thanks to firm buying among domestic steel mills while the tightness in FeMo and moly concentrates supplies continued, according to market sources.
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Domestic ferromolybdenum (FeMo) prices in China under Mysteel’s survey strengthened over July 26-30 after staying steady during the prior week. Prices were mainly propelled by improved sentiment in the market and the sound demand from domestic steel mills, market watchers indicated.
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China’s prices of ferromolybdenum (FeMo) and molybdenum concentrates remained unchanged at high levels over July 19-23, according to Mysteel’s survey, though market sources observed that buying interest among Chinese steelmakers for FeMo softened last week.
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Chinese prices of ferromolybdenum (FeMo) rose for the second successive week over July 12-16, according to Mysteel’s regular survey. Market watchers noted that the rebound in FeMo prices was mainly due to the smelters’ higher production costs and improved market sentiment, boosted by the increase in prices of moly concentrates.
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Chinese prices of ferromolybdenum (FeMo) reversed up over July 5-9, Mysteel’s regular survey has found, ending the steady decline since mid-June. Market sources noted that Chinese mills became more active in replenishing inventories of FeMo last week. Amid the tight supplies of the ferroalloy, most mills were obliged to raise their bidding prices to acquire what they need, and this fuelled the FeMo price rebound.
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Prices of both ferromolybdenum (FeMo) and moly concentrates in China assessed by Mysteel continued tracking south over June 28-July 2. Industry watchers remarked that the overall market sentiment weakened last week, with Chinese steel mills’ demand being average.
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After the series of rises since early June, the domestic price of ferromolybdenum (FeMo) in China headed south over June 21-25, according to Mysteel’s price tracking. The retreating FeMo prices mainly reflected the decline in bidding prices tabled by Chinese mills, market sources commented.
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The domestic price of 60% ferromolybdenum (FeMo) in Northeast China, a key production hub of the noble alloy, had strengthened by Yuan 15,000/tonne ($2,319/t) on week as of June 18, and hit a 11-year high of Yuan 162,000/t on June 17, according to Mysteel’s survey. Market sources mainly attributed the price hikes to the Chinese smelters passing along higher production costs.
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The price of 60% ferromolybdenum (FeMo) in Northeast China, a key production region for this noble alloy, reached a ten-year high of Yuan 145,000/tonne ($22,649/t) EXW and including the 13% VAT as of June 11 after having risen drastically by Yuan 22,000/t on week, according to Mysteel’s regular survey. Market sources attributed the surging price to the ever-rising prices of moly oxide in the global market and higher production costs among Chinese miners.
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China’s ferromolybdenum (FeMo) price jumped at the end of last week to a more than1.5-year high, mainly following the surge in global market prices, Mysteel’s latest assessment shows. Market sources said the price surges were triggered by concerns over moly concentrate supply as global miner Codelco’s production was disrupted.
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China’s ferromolybdenum (FeMo) price retreated over May 24-28, bringing an end to the steady climb since late April, Mysteel’s assessment showed. As of May 28, the price of 60% FeMo in Northeast China, a key production hub of the noble alloy, had declined by Yuan 2,000/tonne ($314/t) on week to Yuan 123,000/t EXW and including the 13% VAT, while the price of moly concentrates continued to gain ground over the period.
