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As of July 27, the price of high-carbon Ferrochrome with 55% Cr content in North China’s Inner Mongolia hit the highest in Mysteel’s assessment since August 2019, reaching Yuan 11,000/tonne ($1,690/t) and including the 13% VAT after another gain by Yuan 1,100/t on week, mainly supported by the remaining supply shortage while firm demand from China’s stainless steel mills.
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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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China’s high-carbon ferrochrome (FeCr) price for both spot sales and under long-term supply deals reached the highest since in Mysteel’s assessment record since August 2019, mainly as supply has been seriously constrained by the power supply shortage in North China’s Inner Mongolia, market sources confirmed.
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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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China’s high-carbon ferrochrome (FeCr) price in both spot and term markets strengthened to a three-month high as of July 6, mainly due to the higher bidding prices from Tsingshan Holding Group for July supplies, Mysteel’s latest market survey showed.
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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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In China, prices of both ferrochrome (FeCr) and imported chrome ore at the ports stayed unchanged over June 21-28, as both the raw material traders and FeCr smelters are awaiting the signs of direction from the domestic steel mills’ bidding prices July FeCr procurement, Mysteel’s latest weekly survey showed.
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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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As of June 22, China’s spot price of high-carbon ferrochrome (FeCr) with 55% content in North China’s Inner Mongolia under Mysteel’s assessment stayed on the uptrend for the fifth week, or gaining another Yuan 200/tonne ($30.8/t) on week to a new two-month high of Yuan 7,900/t and including the 13% VAT, as output had been constrained but demand had been firm.
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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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China’s spot price of high-carbon FeCr with 55% Cr content in North China’s Inner Mongolia under Mysteel’s assessment strengthened for the fourth consecutive week as of June 16, up another Yuan 150/tonne ($23.4/t) on week to nearly a two-month high of Yuan 7,700/t including the 13% VAT, mainly because of the continuing declines in supply, market sources shared.
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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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The spot price of high-carbon ferrochrome (FeCr) in North China’s Inner Mongolia under Mysteel’s assessment refreshed its 1.5-month high of Yuan 7,550/tonne ($1,180/t) including the 13% VAT as of June 8, or up another Yuan 50/t on week, mainly due to market concern on possible supply tightness in the near term, market sources shared.
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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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Stocks of imported chrome ore and concentrates at the six major ports across China monitored by Mysteel rose for a third successive week over May 21-28 to reach a six-week high, new port data show. Market sources on Wednesday cited the steady arrival of carriers as well as slow buying from domestic ferrochrome (FeCr) producers.
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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.
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Chinese prices of imported chrome concentrates continue to increase, with the price of South Africa-origin 42% grade chrome concentrates at North China’s Tianjin port edging up to a 1.5-month high of Yuan 28/dmtu ($4.4/dmtu) as of May 26, higher by Yuan 0.5/dmtu on week. Propelling the prices up were higher offer prices from overseas suppliers trying to offset their increasing costs, market watchers commented Thursday.
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The price of 60% ferromolybdenum (FeMo) in Northeast China, the key production region for the alloy, climbed further to a 19-month high of Yuan 125,000/tonne ($19,475/t) including the 13% VAT as of May 21, up by Yuan 2,000/t on week, according to Mysteel’s tracking. Chiefly responsible for the boost in FeMo prices was the lift in production costs the Chinese smelters are weathering, market sources said, pointing out that actual trading of the ferroalloy was mediocre.
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The spot price of high-carbon ferrochrome (FeCr) in North China’s Inner Mongolia remained unchanged on-week at Yuan 7,350/tonne ($1,143.7/t) including the 13% VAT as of May 18 after nearly three months of decreases, Mysteel’s latest weekly survey has found. Prices gained support from the increasing cost burdens most smelters are carrying, as well as from the improving demand from domestic stainless producers.
