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. The new round of power reform operation will full speed ahead. China 13 provinces (districts and municipalities) announced electricity reform programs. International oil prices have large fluctuation in the short term, which affected by a lot of negative factors.
China domestic rare earth metals market is still sluggish. According to statistics, this week cobalt quoted was 203000-210000 RMB / ton which has small increase, and the average price of cobalt is 205,666 RMB / ton, comparing with last week the price fell 0.48%. Magnesium ingot quoted has slight increase and at 29th the price remained 12200-12800 RMB / ton. It is reported the price increase relate to production limit; Antimony ingot price is 34000-35000 RMB / ton, almost flat.
International News: the United States last week jobless claims were lower than expected and the labor market is still strong. July New York, Philadelphia Fed manufacturing index is successive weakening and US dollar hit a new low intraday. ECB will reduce the rate in the short term and quantitative easing policy will continue until to achieve inflation and sustainable adjustment.
Tendency of molybdenum price
In China, rare earth domestic market still depressed. And in this article I will more emphasize on cobalt, magnesium, antimony and molybdenum concentrate market quotation. Cobalt quote price is going up with small range.
International News: the British exit from the euro to accelerate RMB devaluation and metal market also suffer violent impact; sharp depreciation of pound sterling, the Bank of England may expand scale to buy the debt; ECB central bank forum may trigger currency instability.
In terms of price, the rare earth metals in this week on China’s market still continued weakness. Cobalt, indium and other purchasing and storage kinds are good at earlier stage and after falling. Magnesium, antimony, bismuth, germanium and other products are effect by supply and demand continue to falling.
Macro Information: China: the proactive fiscal policy is effective, so new policy is expected to launch; from January to April state-owned enterprises revenue and profits continue to decline, but narrowed 1.3 and 5.4 percentage points; coal, steel and other industries continue to lose.
Ferro-molybdenum (FeMo) and molybdic oxide (MoO3) prices remained stable on Friday November 20, as negotiations for long-term contracts continued.
Silicon is the most commonly used semiconductor materials. But it has two drawbacks: firstly, when the silicon coating tends to thin, its electrical property will decline; secondly, its indirect bandgap makes it difficult to apply in photovoltaic projects, which greatly limit silicon application. Therefore, many scientists are looking for new semiconductor materials. Molybdenum ditelluride is a new type semiconductor material developed by a research team of Japanese and Korean.
Prices of 99.95%-grade molybdenum, also known as chemical pure moly, have maintained year-ago levels while more commonly traded 57%-grade moly oxide prices hover at multi-year lows, market sources said Tuesday.