Molybdenum News Center

Tungsten and Molybdenum Latest Price – October 25, 2016

International News: The US Markit manufacturing PMI initial value has been improving at October, Chicago Fed President Evans expressed the doubts about inflation. Two Federal Reserve officials made a speech last night and this early morning indicated the Federal Reserve in December to raise interest rates will become possible. The ECB in December may announce how monetary policy will evolve and the QE speculation may come true. Fed Brad said low interest rates will be the norm in the next two or three years.

China News: The rising US dollar continued to exacerbate the depreciation of the RMB and the central bank intervention appears in market exchange rate. RMB has fallen more than 1.5% against dollar in this month. 10-year Treasury bond futures prices fell dramatically, which is the largest single-day drop in these two months. The new momentum to drive China's economy by 6.7% and the increasing range is large. China many places housing purchase limitation turn to flat and the expert said this adjustment will maintain for 6~9 months.

Industry News: Compared with the flourish of bulk commodity market, the oil market is bleak. LME global copper inventories decreased 6,825 tons and copper canceled warrants were102, 425 tons. Freeport-McMoran Copper & Gold copper price is increasing and Shanghai lead is limit-up. Tongling Nonferrous Metals Group Co., Ltd. net profit fell nearly 50%in the first three quarters. Las Bambas copper ore will be the end of October or early November to restore exports. Inflation expectations and asset allocation will decide the commodities overall increase direction and Shanghai aluminum price is increasing. Iraq has to seek production cuts and Russia does not suggest production cuts, so the oil price is still decreasing.

Molybdenum market: Molybdenum concentrate market overall performance is good, but ammonium tetramolybdate and ammonium heptamolbdate prices and transactions have slight decreased.

Tungsten market: Tungsten concentrate market focuses on national purchasing and storage, so many manufacturers wait and see for market change. Ammonim paratungstate and tungsten powder prices have slight increase.

The tungsten and molybdenum October 25, 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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