Molybdenum News Center

Tungsten and Molybdenum Latest Price – October 24, 2016

International News: Trump support rate is slightly higher than Hillary Clinton, which makes November 8 US presidential election results re-confusing. Trump announced that if elected, he may to implement The New Deal, which will lead to turmoil throughout the global financial markets. The euro against the dollar plummeted and the euro zone GDP growth rate will be lower than the previous estimate. The Brexit caused uncertain factors and December 4 the results of the Italian constitutional referendum will increase the risk of euro decline.

China News: US dollar rapid rise which make the RMB continual devaluation. The central parity of RMB against the US dollar today reported 6.7690, which hit the lowest since September 9, 2010. China capital has continued to outflow which gives lots of pressure on economic, and the September exchange settlement deficit is up to 189.7 billion. A total of 591 billion reverse repurchase and MLF expired last weak and the fund is expected to improve. China Banking Regulatory Commission Oct. 21 held the third quarter economical situation analysis meeting which will be strictly prohibited illegal bank funds into the real estate field.

Industry News: On November 30th OPEC meeting in Vienna will reach a related agreement and the Russian crude oil producers may continue to increase production. LME global copper stocks decreased 1,800 tons and copper canceled warrants were 104,850 tons. Next year Codelco European market copper may rose to $ 80-85 per ton; Chile's chief miners were environmental punishment and copper production may affect largely. Commodities markets have shown signs of recovery.

Molybdenum market: Global molybdenum market is flat, but it is expected the market will increase. Besides molybdenum raw material, ferro molybdenum and molybdenum bar affected by steel biding have slight increase.

Tungsten price: Tungsten purchasing and storage is confidentiality, but the quantity and price is similar to expectation. Ammonium paratungtate price affected by purchasing has slight increase. Tungsten bar market is still waiting and seeing.

The tungsten and molybdenum October 24, 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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