Molybdenum News Center

Tungsten and Molybdenum Latest Price – October 19, 2016

International News: the US September employment data is poor and December rate hike seems to have been nailed. Draghi this speech may announce in December to extend the QE operation and the European Central Bank is still possible to reduce the intensity of easing policy. Three-quarters of the local Fed are support to increase the discount rate.

China News: In the third quarter of China's transcripts fully released on this morning. GDP annual rate increased 6.7% which is similar to expectation. RMB loan has good performance and enterprise investment willingness is getting stronger. China September new RMB loans more than one trillion, nearly four percent individual mortgage. China to reduce the US debt of 33.7 billion in August, and US debt holding scale hits four year lowest. Hainan real estate market growth continued to fall and September investment to reproduce negative growth.

Industry News: US active crude oil drilling platforms are continues to increase. Iron ore and copper production reduce 6% and market is recovering. On October 18, LME global copper inventories increased 2,200 tons and copper canceled warrants were 100,400 tons. Commodities market is always in a repressed state and the base metal price hovers on oscillation zone. OPEC production limitation may increase the oil price. The first stage investment is 1.07 billion RMB, and aluminum wheel project strives to trial production in December. Ministry of Commerce to respond to the dispute between China and the United States aluminum, smearing speculation is not conducive to problem-solving. The Philippines nickel ore Marcventures to seek Chinese partners to build a nickel processing plant. The seventh oil prices rise around the corner and it is expected to adjust the rate of 300-350 RMB per ton.

Molybdenum market: Molybdenum concentrate performance is flat and ferro molybdenum is stable. Ammonium heptamolybdate transactions are reduced last day.

Tungsten market: Affected by purchasing and storage tungsten market is stable and ferro molybdenum market is firm, but tungsten powder transactions have slight decrease.

The tungsten and molybdenum October 19, 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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