Tungsten and Molybdenum Latest Price – November 2, 2016
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- Category: Molybdenum's News
- Published on 03 November 2016
- Written by yiping
- Hits: 255
International News: The euro zone economy has bottomed up which is gentler, and manufacturing PMI in October increased. US ADP employment data in October may be improved and Philadelphia, New York Fed manufacturing and employment data both picked up. US October manufacturing PMI hits new high in this year and ISM manufacturing index is better than expected. The Bank of Japan postpones inflation time for warning the possible of economy and inflation downside risks.
China News: 1.5 trillion reverse repurchase of The People‘s Bank of China will expire and the continuous improve space of funds may be limited. National Development and Reform Commission, Ministry of Communications, Ministry of Finance held a joint meeting on November 1 and the policy of vehicle purchase tax half reduced by half may postpone by another year. First-tier cities housing prices may large rebound and the RMB against the US dollar exchange rate to break 7 will be soon.
Industry News: Overnight commodities market may turn to weak for supporting factors change. US API crude oil inventories soared 929.6 million barrels last week, which re-shocks oil prices. Aluminum price is going up and so far this year, Shanghai aluminum has increased nearly 31%. Jiangxi Copper Corporation became the first batch of Customs senior certification enterprises, which can enjoy the global fast clearance VIP treatment. Since zinc prices will continue to rise, Glencore may close another zinc mine.
Molybdenum market: Molybdenum concentrate market is weak, but ferro molybdenum prices may go up. Molybdenum oxide manufacturers are reluctance to sale, so the actual turnover is flat.
Tungsten market: Foreign tungsten concentrate prices rebounded, which is good for China ferro tungsten market to get firm. Besides, tungsten powder prices also rise.
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