China moly concs prices dip as moly oxide slides globally

Source: Mysteel Jun 22, 2020 16:30

After remaining unchanged for two weeks, the price of 45% grade moly concentrates in Central China’s Henan province declined by Yuan 50/mtu ($7.1/mtu) on week to Yuan 1,440/mtu including the 13% VAT over June 15-19, returning to the level of April 21, according to Mysteel’s assessment. Prices softened mainly because prices of the competing raw material with Chinese ferroalloys smelters, imported molybdic oxide, are getting cheaper, market sources said on Monday.

The global market for ferromolybdenum (FeMo) has lost ground given the impact of COVID-19, and this has led prices of imported moly oxide at Chinese ports to decrease, a Shanghai-based market insider said, adding that many overseas suppliers of moly oxide are trying to lift exports to China because

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