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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.
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Cautious sentiment has been prevailing in China's ferromolybdenum (FeMo) market during and after the Labour Day holiday over April 30-May 4, as the FeMo prices assessed by Mysteel continued to trend down over April 29-May 6 from their previous highs with dull demand from steelmakers, according to market sources.
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Over April 18-22, Chinese spot prices of ferromolybdenum (FeMo) and moly concentrates under Mysteel's assessment witnessed downward corrections after rallying persistently to their new highs during the prior three weeks, as market cautiousness resisted the prices from climbing further, according to market sources.
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China's prices of both ferromolybdenum (FeMo) and moly concentrates under Mysteel's tracking increased further over April 11-15, with the sentiment among many market participants including smelters, steelmakers and traders softening, according to sources.
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Over April 4-8, Chinese price of ferromolybdenum (FeMo) under Mysteel's assessment climbed further to hit a new high since October 23 2008, mainly on support of stronger fundamentals with tightened supply while firm demand of FeMo, as well as smelters' higher production costs, according to market sources.
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China's price of 60% ferromolybdenum (FeMo) under Mysteel's assessment increased to its 12.5-year high over March 28-April 2, mainly as Chinese FeMo smelters have been defending offering prices given their ever-rising production costs, according to market sources.
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Over March 21-25, Chinese spot prices of ferromolybdenum (FeMo) under Mysteel's assessment reversed down from their 12-year highs recorded over the prior week, as the market sentiment cooled down with steelmakers' lower bidding prices, according to market sources.
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Over March 14-18, China's domestic price of ferromolybdenum (FeMo) under Mysteel's assessment touched its highest level since August 14 2009, mainly boosted by FeMo smelters' surging procurement costs of moly concentrates, according to market sources.
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Over March 7-11, Chinese ferromolybdenum (FeMo) prices under Mysteel's assessment saw a notable increase, largely supported by the positive market sentiment amid firm demand, smelters' higher production costs and rising prices in the global market, according to market sources.
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Over February 28-March 4, Chinese prices of ferromolybdenum (FeMo) under Mysteel's assessment showed signs of recovery after the prior week's decline, supported by the improved fundamentals with tightened supply and firm demand, according to market sources.
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Over February 21-25, Chinese prices of ferromolybdenum (FeMo) under Mysteel's survey eased from the 12.5-year high recorded last week, as the market sentiment turned bearish and steelmakers' demand softened, according to market sources.
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Over February 14-18, China's domestic price of ferromolybdenum (FeMo) under Mysteel's survey increased further to hover at its 12.5-year high, largely due to the continuing demand recovery from Chinese steelmakers and the rising production costs among smelters, according to market sources.
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Over January 30-February 7, Chinese price of ferromolybdenum (FeMo) under Mysteel's price tracking persisted at its five-month high as smelters' production costs stayed high, despite dull demand among domestic steelmakers during the Chinese New Year (CNY) holiday over January 31-February 6.
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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.
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Chinese prices of ferromolybdenum (FeMo) under Mysteel's survey moved up further over January 4-7, mainly supported by relatively healthy supply-demand fundamentals and higher production costs among smelters, according to market sources.
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Over December 27-31, Chinese domestic prices of ferromolybdenum (FeMo) under Mysteel's price tracking stayed unchanged on week, mainly as FeMo smelters were unwilling to cut their offering prices because they were paying more for their raw materials, market sources said.
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Over December 20-24, Chinese prices of ferromolybdenum (FeMo) under Mysteel's survey continued to rise, owing to robust replenishment demand from domestic steelmakers and higher production costs among FeMo smelters, according to market sources.
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Chinese prices of ferromolybdenum (FeMo) under Mysteel's assessment increased for the fourth week over December 13-17, mainly because domestic mills with restocking demand had lifted their bidding prices, market sources said.
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China's domestic prices of ferromolybdenum (FeMo) under Mysteel's survey climbed for the third week over December 6-10, propelled mainly by the tightened supply of FeMo in the market and steel mills' improved demand, market sources said.
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Chinese domestic prices of ferromolybdenum (FeMo) under Mysteel's survey increased for the second week over November 29-December 3 at a faster pace. Market sources attributed the price surge to better demand among steel mills and tighter supplies of FeMo in the market.
