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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. In late month, steel mills were positive to input FeMo, transacting at RMB95,000-96,000/mt (USD15,573-15,737/mt, export duty excluded) by acceptance. Overseas moly oxide price rose to USD13.1-13.2.lbMo.

A Hebei FeMo supplier offered RMB97,000-98,000/mt (USD15,901-16,065/mt, export duty excluded) by acceptance for FeMo. Traders see upward market in the near future, planning to stock some materials. Moly concentrates stood at RMB1,320-1,330/mtu (USD216-218/mtu, export duty excluded), unchanged from last week.

A Sichuan moly oxide exporter reported transaction of moly oxide in the Asian market at USD13.15/lbMo, after receiving more inquiries. After summer vacations ended, the buying activities increased, as consumers returned to the market and supplemented raw materials. Overseas FeMo price crept upwards due to thinner spot offers. Large orders are expected to increase in the coming days, including one from a major steel mill for as much as 90mt. FeMo transacted at USD32/kgMo.

It is expected that FeMo price would rise with warm demand. It is expected that moly oxide price would trend higher in September, as consumers’ buying intentions were more positive.

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• [Editor:Mango]