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China's FeMo exports still frozen
June 16, 2009 - 09:35 GMT
Location:
Shanghai
KEYWORDS:
ferromolybdenum
,
china
China's ferro-molybdenum exports continue to stall as international prices, despite a recent rebound, remain below domestic costs.
International ferro-moly market prices have risen to around $25 per kg, compared to Chinese production costs of $30 per kg.
"It is still not the right time to export ferro-molybdenum since the price spread leaves no room for profit and there are no favourable policy moves from Beijing," said a producer in Liaoning that imports molybdic oxide to produce alloys mainly for the local market.
Since early June, market rumours have spread that Beijing may ease the export tariff on ferro-molybdenum but there have been no such signs.
"We can only presume that China is unlikely...
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