Chinese Ferro Molybdenum Price Rose, and Will Move Higher
- Details
- Category: Molybdenum's News
- Published on 02 September 2014
- Written by jwy
- Hits: 439
Chinese FeMo60 was offered at RMB98,000-99,000/mt (USD16,065-16,229/mt, export duty excluded) by acceptance. In late month, major steel mills entered the market to buy raw materials, which was concluded at RMB97,000-98,000/mt(USD15,901-16,065/mt, export duty excluded) by acceptance.
A Hebei FeMo supplier offered RMB98,000-99,000/mt (USD16,065-16,229/mt, export duty excluded) by acceptance for FeMo, up RMB1,000/mt (USD163/mt, export duty excluded). Increased raw materials cost, together with recovering tender price from steel mills pushed FeMo price up. Traders bought required volumes, unwilling to accumulate inventory. It is expected that there would be rising room for FeMo in gold September.
Moly concentrates stood at RMB1,350-1,360/mtu (USD221-222/mtu, export duty excluded).
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