Molybdenum News Center

Tungsten and Molybdenum Latest Price – October 21, 2016

International News: The United States last week jobless claims continual 85 weeks in 30 million people and existing home sales continue to hot. The third round presidential election TV debate ended, Hillary Clinton overwhelmingly occupy the presidential election initiative. The European Central Bank president Draghi is in a dilemma. Besides, Brexit and US presidential election are uncertain. The European Central Bank maintains the three major interest rates unchanged and if necessary will extend the QE to March next year. US stocks ended two wins and the euro fell to four month lowest.

China News: the National Bureau of Statistics released 2016 September 70 large and medium-sized cities residential sales price changes report. September first-tier cities and hot second-tier cities housing prices continue to soar. Offshore RMB against the US dollar fell to 6.75, which hit the lowest in these nine months. Hangzhou New Deal already for a month, October the average daily turnover of new commercial housing down more than 200 sets.

Industry News: October 20, LME global copper inventories decreased 2,050 tons and copper warehouse receipts were 104,725 tons. After Draghi speech will increase the chance of euro to sharply decline. Base metal, precious metal and crude oil and other commodities prices may decease, but copper foil and cobalt salt and other lithium battery raw material will have significantly increased. IAI announced that China output is active and September the global average daily aluminum production hits the new record.

Molybdenum market: Molybdenum price continues to go up and ferro molybdenum transactions also increase. Besides, molybdenum bar also has good transaction performance.

Tungsten market: Tungsten market is commotion in price and ferro tungsten market holds the stocks waiting for market recovering. Tungsten powder price is on the high level, which affects transaction.

The tungsten and molybdenum October 21, 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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