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[Ferro-Alloys.com]Chinese FeMo was offered at RMB97,000-98,000/mt (USD15,901-16,065/mt, export duty excluded) by acceptance. Stainless steel market weakened, as well as higher nickel price led to stainless steel cost upturn. So steel enterprises pressed FeMo tender price to RMB94,000-95,000/mt (USD15,409-15,573/mt, export duty excluded) by acceptance.

A hebei FeMo supplier offered RMB97,000-98,000/mt (USD15,901-16,065/mt, export duty excluded) by acceptance for FeMo, they first did old customer’s orders. Their FeMo output decreased slightly, and transaction price slipped. It is expected that Chinese FeMo price would stabilize at the low level, waiting for the next round of tenders for new direction.

Chinese moly concentrates transacted at RMB1,320-1,330/mtu (USD216-218/mtu, export duty excluded). Buyers had negative attitude in booking materials, while sellers insisted their offers. The entire market was in a stalemate. Participants see bounce in September.

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• [Editor:Mango]