[Ferro-Alloys.com] 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. Overseas moly oxide transacted at USD13-13.1/lbMo, but deals were slim.

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) from last week. Increased raw materials cost, together with recovering tender from steel mills pushed FeMo price up. Traders bought required volumes, unwilling to accumulate inventory. Moly concentrates stood at RMB1,350-1,360/mtu (USD221-222/mtu, export duty excluded).

A Sichuan moly oxide exporter offered USD13-13.1/lbMo for moly oxide, and could conclude business in the Asian market. Sellers tended to push offer up, so it was difficult to find low-priced materials. Overseas FeMo price dropped to USD31.7-32.2/kgMo, but it didn’t mark the change in direction.

It is expected that there would be upward room for FeMo in gold September. It is expected that overseas moly oxide price would move up, as end-users increased buying volumes.

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• [Editor:Mango]