The price of 60% ferromolybdenum (FeMo) in Northeast China, a key production hub of the noble alloy, last week came off the one-year high it achieved the previous week, declining to Yuan 115,000/tonne ($17,675.5/t) including the 13% VAT as of March 12, down Yuan 1,000/t on week. Mysteel’s latest weekly survey found that steelmakers were bidding at lower prices in reaction to softening sentiment.
Source : https://www.mysteel.net/article