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[Ferro-Alloys.com] Chinese FeMo price kept steady due to weak demand, which was offered at RMB98,000/mt (USD16,065/mt, export duty excluded) by acceptance. Major steel mills took intensive tenders in late month, transacting as low as RMB95,000/mt (USD15,573/mt, export duty excluded) by acceptance. Middle & small steel mills purchased FeMo as required, obtaining materials at RMB97,000/mt (USD15,901/mt, export duty excluded) by acceptance. Overseas moly oxide price edged down, transacting at USD12.7-12.8/lbMo.

A Shaanxi FeMo supplier offered RMB98,000/mt (USD16,065/mt, export duty excluded) by acceptance for FeMo, and sold approximately 1,500mt every month. They mainly did old customer’s orders. FeMo60 price began to rise at the end of August, presently it stabilized. Moly concentrates stood at RMB1,350/mtu (USD221/mtu, export duty excluded) by acceptance.

A Sichuan moly oxide exporter reported sales in the Asian market at USD12.95/lbMo. As operation rate of steel industry improved after the summer vacations, the demand for raw materials has recovered much. Exporters received more inquiries, but bids were too low, so they rejected. There were low-priced FeMo from China available in the European market, which pulled down local market price. Overseas FeMo was offered at USD31.5-31.9/kgMo, and transacted at USD31/kgMo.

Decreasing international market together with bad domestic consumption of steel made FeMo lose upward momentum. It is expected that in mid-September, moly oxide price would rise with increased demand.

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• [Editor:Mango]