Ferromolybdenum,Ferro Molybdenum price keeps dropping

Chinese suppliers have reduced their prices of ferromolybdenum 60% from around RMB185,000/t(USD45.14/kg Mo) to RMB150,000-160,00/t (USD36.60-39.04/kg Mo) since the middle of August.Though the price is still dropping, some suppliers still have some deals done currently.
A smelter in Jiangsu,with a production capacity of 500tpm for ferromolybdenum,offers RMB155,000/t(USD37.82/kg Mo) ex work for ferromolybdenum 60% currently,confirming that they made a deal of 600t of ferromolybdenum 60% at aroud RMB155,000/t(USD37.82/kg Mo) on Wednsday.
"We have some long-term customers, and our output of ferromolybdenum 60% keeps at about 300tpm in recent months," said the source."I think ferromolybdenum price may drops further this week, but it may tends to be stable early September."
A smelter in Liaoning, with a producton capacity of 100tpm for ferromolybdenum,offers about RMB156,000/t (USD37.82/kg Mo) for ferromolybdenum 60%."We have already made a deal of ferromolybdenum 60% in recent days, and will be delivered this week," said the source.
The source has some long-term consumers, so they don't have a big trouble in selling."I think the demand will resume in September, because steel mills usually purchase the materials in this month,"said the source