Molybdenum News Center

Tungsten and Molybdenum Latest Price - August 5, 2016

International News: The expectation of the United States July non-farm is more conservative and expected US dollar volatility is not large. June the US annual average hourly wage rose to the highest level of the year and it is expected to the growth rate will continuous. Philadelphia Fed President Patrick Harker published hawlish remarks indicated that the Fed needs a little aggressive policy. Affected by the officials’ dovish comments of Bank of Japan and British interest rate cuts, overnight US dollar index has slight increased. The Bank of England Thursday meeting announced on schedule to reduce interest rate by 0.25% and decided to expand purchases scale from £ 375 billion to £ 435 billion.

China News: Shanxi province refers to China Bond Insurance Corporation mode to build Credit Enhancing Investment Company, which is as the precedent to tackle CDS problem in China. Hengda brought Vanke shares and the ratio reached 4.68%. The total investment is ¥ 9.11 billion. Development and Reform Commission made response to housing subsidy. The housing subsidy will as a suggestion to be discus but does not mean that will be implemented. July property transactions have continued to decline and Suzhou, Xiamen is more significant. Hainan Power Grid signed agreement to transform Haikou Power Grid and the investment amount reached ¥ 5.1 billion.

Industry News: The overnight US 09 crude contract continues to increase, which is benefit form timely adjustment after sharply decline. Base metals market is weak and will continue slight decline. The copper supply from third quarter of 2016 to the first quarter of 2017 approximately increases 1 million tons. Oyu Tolgoi second quarter results are better than expectations, but copper and gold production is poor. Ecuador Mirador copper mine will be put into operation in 2018, JP Morgan raised 2016 global copper production forecast.

Molybdenum market: International molybdenum price is stable and China domestic molybdenum prices has slight increased. The buyers wait for price to fall, so the transactions are poor. In the short term the molybdenum market will remain stable trend.

The price of molybdenum main products:

Tungsten market: August Ganzhou Tungsten Association guide price to be announced, the market further action will depend on it. APT price rose slightly, however the market does not seem to accept, so the transaction is rare.

The price of tungsten main products:

The price of tungsten and molybdenum main products:

The tungsten and molybdenum August 5, 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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