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EC duty suspension on Chinese FeMo likely to be extended
Member states of the European Commission's Antidumping Committee did not raise any objection to a proposal to extend until Jan. 31, 2008 the suspension of the 22.5% antidumping duty on EC imports of Chinese ferromoly. The antidumping duty was imposed in February 2002. On Oct. 23, 2006, the European Commission suspended the antidumping duty for nine months until July 23, 2007. The European Commission presented its proposal to extend the duty suspension to the Council last week and hopes that the Council will agree to the extension and publish its decision in the EU Official Journal by July 21, at the latest.
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Raw material
Commentary Yieh Corp (Metals & Stainless Steel News)
Molybdenum prices fall in USA
As American stainless steel and special steel producers reduced their consumption on molybdenum, the price of molybdenum began to fall.
The price of ferromolybdenum has decreased to US$34-36/lb from US$36-38lb. Molybdenum oxide price also went down to US$30-33/lb from US$33-35/lb in late May.
Besides weak demand, another reason is the pending summer vacation and the molybdenum production will also fall in the fourth quarter.
It is expected that the molybdenum price will rebound after vacation.
News Date 7/4/2007 report by Wenger Wang/ Yieh Corp
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