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Tungsten and Molybdenum Latest Price – October 26, 2016

International News: The Federal Reserve interest rate hike in December seems to be slightly out of economic data expectation. Overnight October US Conferenc Board consumer confidence index fell sharply to nearly three months lowest. Fed officials continue to release hawkish signals and the dollar are still rising. After the British Central Bank Carney made a speech, the pound is unstable. The United States in August housing market recovery was accelerated and the national house price index hits a new record. The European Central Bank governor said before to reach the inflation target will maintain the "ultra-loose" policy.

China News: The central bank continued to increase the net capital investment efforts, but the pattern of the market funds is still tense. Overnight Shibor achieved sequential rises for10 times. Today the central bank conducted 105 billion 7-day reverse repurchase operations and the central bank may consider taking the off-balance finance into generalized credit control area, which may impact bond market. US dollar index broken through 99, the offshore RMB has expanded the decline range, which cause in the amount of goods price to rise. Nanjing housing purchase limitation is already for a month, but the transactions is poor and between developers have cutthroat competition. The second-class joint venture brand is in the adjustment period.

Industry News: US crude oil inventories fell sharply due to the decline of US crude oil import volume and the oil market performance is weak. LME global copper stocks decreased 1,150 tons, copper canceled warrants is 103,975 tons. Free port McMoRan reduce 2016 copper and gold sales expected. This year copper price will rise to $ 4,724 and will increase next year basic metal prices. Most commodities next year will be moderate recovery.

Molybdenum market: Molybdenum concentrate price is stable in the short time, but ferro molybdenum market is weak and molybdenum bar transactions also have slight decline.

Tungsten market: Tungsten concentrate price will continue to increase and remain at a high level, but ammonium paratungstate manufacturers should pay attention to price fluctuation. Tungsten powder price is stable, but the transactions increase slowly.

The tungsten and molybdenum October 26, 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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