Molybdenum News Center

Tungsten and Molybdenum Latest Price – July 1, 2016

International News: Bank of England director hinted this summer may cut interest rates, the pound falling resulting in Europe and America stock markets to surge; offshore RMB sharply fell down 400 points in 10 minutes and the central bank indicated China has no intention through depreciation to promote the trade; there has many troubles after British exited form Europe and Standard & Poor’s lowered European Union’s ratings; resource tax reform fully open in July, which does not increase the overall burden on enterprises.

China News: Hefei province New Deal is hard to tackle land purchasing enthusiasm and in the first half year land selling revenue is over last year; power battery technology as development priority, ternary material demand will surge; Gansu province introduced new energy vehicles subsidies: the highest subsidies can up to 50% of the purchase price of car; Tibet puts into operation 18 new rural power grid construction projects.

Industry News: in May Chile copper production fell 6.8%; global aluminum are largely eliminating inventory, so in the short time aluminum is stable; Malaysia once again extend bauxite mining ban to September 14; Mexico April copper output was up by 5.1%, but gold and silver production fell; resource tax reform to open in July 1, the largest lead-zinc mine in China Anhui Province corporate tax burden drops to half.

Molybdenum market: steel industry sharply forces down the prices and raw material price still at high level, so ferro molybdenum prices continue to fall; the manufacturers generally hold pessimism about furture market and continue to see and wait, latterly the price may stable at 60,000 RMB for each ton.

The price of molybdenum main products:

Tungsten market: tungsten concentrate reduces the range of a price drop, latterly the price may stable at 60,000 RMB for each ton; tungsten market off-season is coming and tungsten carbide company order is reducing, so the whole industry hole the pessimism attitude and waits for market to recover.

The price of tungsten main products:

The price of tungsten and molybdenum main products:

The tungsten and molybdenum July 1, 2016 latest price is provided by Chinatungsten Online based on comprehensive analysis data. What we supply is above market price and only for reference. If there is any detail requirement, kindly please contact Chinatungsten for further action.

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