China's HBIS raises May FeMo tender price

摘要

Chinese state-owned steel producer HBIS has raised the ferro-molybdenum tender purchase price for May delivery in response to a rise in steel orders, low alloy inventories and higher concentrate feedstock prices. The firm's tender price has risen to 104,000 yuan/t ($24.44/kg) paid by acceptance bill for 60pc grade alloy, up by Yn7,500/t from a tender it issued in late April. The firm failed to secure 200t of the noble alloy as previously planned, as many alloy suppliers withheld material from sales amid expectations of higher prices in the coming week.