China’s moly concs, FeMo prices recover on higher demand

Chinese prices of moly concentrates and ferromolybdenum (FeMo) lifted slightly over August 3-7, each driven by the increase in procurement from domestic FeMo smelters and stainless mills, a market source said on Monday.

As of August 7, the price of 45% grademoly concentratesin Central China’s Henan provincehad reversed up from its 39-month low the previous week to Yuan 1,240/mtu($177.9/mtu)and including the 13% VAT, according to Mysteel’s assessment. The price, steady for three consecutive weeks, rose by a tiny Yuan 10/mtu or 0.8%