The price of molybdenum concentrate keeps going up on Apr. 10, 2017.Ammonium molydate is steady today. Because of the environmental inspection is getting tighter, the yield of raw material of molybdenum is influenced a lot, with a result that the price remains rising.
The molybdenum trioxide price has kept the same price as yesterday after a month increasing without stop. For ammonium molybdate, the price is going up continuously. Ferro molybdenum price remained stable. All in all, the molybdenum price on Mar. 27, 2017 is going up stable.
The molybdenum concentrate commodity index is 72.18 on Mar. 7, 2017, which is the same level as yesterday. It has lowered down 41.52%, compared with the highest level on Jan. 23, 2013, but increased 49.75% compared with the lowest point on Dec.2, 2015. The comparison is calculated from Sep. 30, 2012. The value has been going up continuously 49.751% in 463days.
International: Affected by Brexit, UK economy has suffered a lot and the UK pound also continues depreciation. US oil hits a lowest record on Monday and Saudi Arabia announced that the main factor is production reduction. Global ultra-loose monetary policy era will end and the United States has been walking in the forefront to raise interest rates.
International: Federal Reserve Chairman Yellen gave affirmative evaluations on US economic performance and he thought three times rate hike is appropriate. The Euro Zone economy is recovering and they may reduce the purchasing of bond. The oil price has risen markedly and the reasons include US dollar continued to devalue and production reduction of Saudi Arabia, Russia and other oil major exporter.
Molybdenum market: Molybdenum raw material price is stable. Ferro molybdenum and molybdenum bar price is going up with small range. The whole molybdenum market has good performance.
International: Federal Reserve Chairman Yellen released hawkish speech indicated the US job market has reached the strongest level in nearly a decade. The Euro Zone in November CPI initial annual rate hits 2 years high point, which is in line with expectations and better than the previous value. The yen is weakness and the stock market has risen. It is expected the Bank of Japan may do anything.
International News: The Federal Reserve interest rate hike in December seems to be slightly out of economic data expectation. Overnight October US Conferenc Board consumer confidence index fell sharply to nearly three months lowest. Fed officials continue to release hawkish signals and the dollar are still rising. After the British Central Bank Carney made a speech, the pound is unstable. The United States in August housing market recovery was accelerated and the national house price index hits a new record. The European Central Bank governor said before to reach the inflation target will maintain the "ultra-loose" policy.
International News: the Bank of China openmarket has restarted the 28-day reverse repurchase operations and the successful rate has cut 5 basis points to 2.55%. August the main economic indicators were all recovery and the companies were all stable, which improves the investment confidence, the annual GDP approaching 7%. Recently, first-tier cities and second-tier cities housing prices soaring, real estate investment is hot, but it has high risks.