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US ferromolybdenum prices expected to rise

19 Apr 2007 18:22 reported by Bill Chen

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Ferromolybdenum prices have stabilized in the US market thanks to the exports restriction of the alloying material in China.

China's Customs has set minimum export prices for ferro-alloys, as the reference price was US$34 per pound for ferromolybdenum.

Basically, the US is dependent on material from China because there is no enough production produced.

The price will be likely to drive up to US$35 per pound due to lack of supply, said a trader in th US.

On the other hand, Chinese traders are worried about if Customs can't update the prices to reflect market changes in time.

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