Molybdenum News Center

Macro information: China: the US dollar rising has increased pressure on RMB devaluation; the RMB central parity downs 225 points, which records lowest from 2011; Gunagxi resettlement capital is difficult to get back for borrowing companies have closed down. 

 

International: the United States April discount rate meeting enhanced the possibility for Fed expected to raise interest rates; new poll showed pound rose, and the British retreat Europe dragged down the risk of the euro zone economic sentiment index.

 

Industry: non-ferrous metals industry prospect is not very well and there have great pressure for these enterprise to recover; Wengyuan County case of rare earth illegal mining came to an end, and there are about 500,000 tons mineral were damaged; crude oil market demand graudlly goes up, but gold price tend to fall down; natural gas continues to increase, oil prices flating, and metal price is not well; April stainless steel exports amounted up to 349,400.00 tons, which is expected to begin in May stainless export will decline.

 

Molybdenum market: international molybdenum prices continues to rise and molybdenum concentrate prices is firm up. Due to increased costs, molybdenum chemicals and molybdenum finished products’ manufacturers have to raise prices, but because demand is not much and turnover is limited, so many manufacturers hold wait and see attitude.

 

The price of molybdenum main products:

 

Tungsten market: tungsten price tends to fall down, near the end of the month so the operation should even more cautious whether buyers or sellers. Besides, the turnover is not very well. Tungsten ore and ferro tungsten is stable. APT and tungsten powder price is not stable. It is exprcted tungsten price will overall stabilization and small part of the price will drop this week.