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Tungsten and Molybdenum Latest Price – November 8, 2016

Molybdenum market: Molybdenum raw material price is going up and affected by raw material price increase ammonium terramolybdate and ammonium heptarmolybdate price also increase. Molybdenum market is recovering and stable.

Tungsten market: Tungsten concentrate price is reasonable and ferro tungsten price has slight decline. Tungsten powder price is stable.

International: US JOLTs job vacancy data in September picked up again to show job market stable recovery. Fed employment indicators show negative growth year on year, which is rarely seen, to indicate United States economic recession. In S & P (Standard & poor’s) Hillary rose 2% and the result showed she is well-placed to win. Eurozone Sentix Investor Confidence index in November is upward to 13.1, which is better than expectation, but the Euro passive weakened sharply.

China: China Caixin export orders of manufacturing PMI in October growth rate was slowdown, and the depreciation of RMB has few effect on exports stimulation. China's foreign exchange reserve in October fell 45.7 billion US dollars, which is the largest decline range in this year. The volume of railway freight shows positive growth for three months indicated China economic is going better. National Energy Board held a press conference, indicated that China will continue power grid construction.

OPEC re-confirmed the plan of production reduction and it may cause oil price to go up. Overnight commodity markets continue to rise, but the risk of correction is also greater. November 8th Shanghai copper 1701 closed up 3.04% in the day, 40,380 RMB / ton. Nickel price increased sharply, which reaches to the raising limit, and it may affect by American Presidential Election. The main contracts of Shanghai tin closed due to limit up and popular in spot market, which is easily to achieve 14 million RMB. China Minmetals Corporation has made efforts to reform.

The tungsten and molybdenum November 8, 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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