Tungsten and Molybdenum Latest Price - June 2, 2016
- Details
- Category: Molybdenum's News
- Published on 02 June 2016
- Written by yiping
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Macro Information: In international: in May, the US ISM manufacturing index is 51.3, and this index increased which is supported mainly by purchasing managers’ index increase; Royal Bank of Canada meeting opened in Vienna, in the meeting the pressure of high oil prices will be passed on the high-cost producers; tightening labor market, the probability of the Fed raising interest rates go up.
In China: the Chinese manufacturing PMI (purchasing managers’ index) records the lowest in this three mouths, but the official manufacturing PMI is better than expected; in May, the RMB to the US dollar exchange rate has devalued by 1.6%, the central bank commitment to market reform is suspected; Commerce Department data released that the services import and export volume has grew 16.8%, and the trade structure be further optimized.
Industry: the meeting of Japan Central Bank affected copper market, and it is expected that copper market is not well and has some risk in June; Shanghai zinc price increase sharply to make new recode form July, 2015; the new technology of composite material in stainless steel has came out, and the stainless steel is coated with titanium, besides, this technology has broad application prospects.
Molybdenum market: International Molybdenum prices continued to fall; China domestic molybdenum market is temporarily stable. Currently the overall turnover of molybdenum is little, because many manufacturers of finished molybdenum products hold wait and see attitude. The market is in stalemate, but it is expected that the market has possible to recover in the furture.
The price of the main molybdenum products
Tungsten market: Eight large tungsten enterprises will get together to hold a meeting about to limit production and to increase tungsten price, but the market continues to hold wait and see attitude. Besides, tungsten finished products manufacturers adjust underpowered, so there are little inquiries and small turnover. Tungsten maker in the short term is not very well and many manufactures look on the dark side.
The price of the main tungsten products
The price of the main products of tungsten and molybdenum
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