Chinese moly concs sales recover on low and steady prices

China’s moly concentrates had regained popularity against the imported molybdic oxide among the Chinese ferromolybdenum (FeMo) smelters, due to its lower but steady prices since mid-July and its delivery convenience, market sources shared on Monday, noting that imported moly oxide was with supply tightness too.

As of July 31, the price of the 45% grademoly concentratesin Central China’s Henan provincestayedat its 39-month low of Yuan 1,230/mtu($176.4/mtu)and including the 13% VAT, unchanged for three consecutive weeks after its sharp decline since July 14, according to Mysteel’s assessment. By the end of July, the Asian moly oxide