Molybdenum News Center

Tungsten and Molybdenum Latest Price – October 14, 2016

International News: Federal Reserve Chairman of the New York Fed Huak made hawkish statement on this morning expected US economy in the second half will strong and stabilization. After Brexit there many uncertain factors will affect Europe market and the European banking crises are intense. On this Friday 17:00, there will publish the euro zone trade balance after August quarterly rebalance.

China News: China foreign trade in September shrunken and the Dow Jones intraday fell to 18,000. China September CPI annual rate was higher than expectation increase to 1.9%. CPI and PPI both experienced continued scissors and they will rebound strongly in September. The third batch of PPP project total investment is 1.17 trillion and the land policy has been liberalized. There are three difficulties of China foreign trade, which will increase the pressure on RMB depreciation. The State Council strikes harder on down payment load which gives real estate finance lots of pressure. China passenger car sales rose nearly 30 percent in September, which is the fastest pace in three and a half years. The RMB middle rate rose by 139 points, which ends the 7-day losing.

Industry News: US EIA crude oil inventories surge than the expectation and the US 11 oil contract after sharp declined is still strong. October 13 LME global copper inventories decreased 1,700 tons and copper canceled warrants were 88,650 tons. September inflation data strong rebound effect has greatly reduced and the base metal market is still weak. Aluminum processing enterprises will implement natural gas instead of oil as energy resource which is the trend.

Molybdenum market: Global molybdenum price continues to fall down and China market wants to wait for market recovery which can to take next actions. After steel bid inviting ferro molybdenum was confirmed similar to manufacturers’ expectation. Ammonium tetramolybdate and ammonium heptamolybdate and other molybdenum chemical products are stable.

Tungsten market: Tungsten market is firm and manufacturers still reluctance to sale tungsten raw material. Besides, ammonium paratungstate and tungsten bar transactions is increasing recently.

The tungsten and molybdenum October 14, 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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