Chinese ferromolybdenum prices rebound on active trading

China's ferromolybdenum (FeMo) prices bottomed out over May 30-June 2, snapping a weakening streak starting from mid-April, according to Mysteel's survey. Market sources observed that the improved trading activities prevented the prices from dropping further.

The price of 60% FeMo in Liaoning of Northeast China, a core production and trading hub for the noble alloy, increased to Yuan 169,000/tonne ($25,367/t) including the 13% VAT on June 2 - the last working day before the Dragon Boat Festival holiday over June 3-5, or having recovered by Yuan 400/t from the two-month