China: FeMo falls on lower tender prices

摘要

A fall in tender prices and weaker demand from steel producers pushed down ferro-molybdenum prices. Ferro-vanadium prices remained stable on limited market activity. Domestic prices for 60pc grade alloy fell to 97,000-100,000 yuan/t ($22.90-23.60/kg) ex-works from the 7 April assessment of Yn99,000-102,000/t ex-works, with lower tender prices and weaker demand from steelmakers outweighing steady concentrate prices. Export prices moved down to $22.90-23.40/kg fob from $23.30-23.80/kg fob over the same period.