Morning Molybdenum Market Guidance on October 22
- Details
- Category: Molybdenum's News
- Published on 22 October 2014
- Written by luya
- Hits: 520
On October 21, LME molybdenum futures price remained relatively stable. March molybdenum offer 19500/20500 dollars / ton; 15-month molybdenum offer $ 20000/21000 / tonne, LME molybdenum positions 156 hands.
Macro News: Resource tax reform timetable settled, which has the full implementation in the next five years; September revenue rose only 6.3 percent, spending is still outperforming revenue; GDP of third quarter up by 7.3%, commodity prices are still under pressure.
The current favorable internal and external factors began to be weaken, and the prices continue to rise, lack of motivation, which has some negative impact on the business outlook expectations. Lack of substantive demand, supply and demand still room for improvement, although manufacturers are still orders exist, turnover was higher than the previous, high turnover difficulties in promoting the market continues to improve.
In addition, due to the high cost producers, while the market price level low, there is no much improvement from the previous month, combined with the imbalance between supply and demand in the state. Some participants in the market outlook is expected to remain relatively pessimistic. Market outlook is unknown, the differences are gradually emerging businesses. End mills tender or increased, while the level of the tender will molybdenum steel product market trends have a greater role in the guidelines.
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