Recent low bidding prices of steel mills prove downtrend of ferromolybdenum price
2013-03-07 17:48:02 【Print】
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The price of ferromolybdenum slightly went down after the Chinese New Year holiday mainly because of weak downstream demand, and tenders of some steel mills weighed on the down trend of ferromolybdenum further. Currently, the price of ferromolybdenum has slipped to RMB115,000/t with potential of further depreciation. Asian Metal estimates that the price is likely to decrease to RMB110,000/t at the end of March, and lower prices will be resisted by producers of ferromolybdenum.
