Molybdenum News Center

Tungsten and Molybdenum Latest Price – November 23, 2016

Molybdenum market: Molybdenum concentrate price has increased. Molybdenum concentrate commodity index is 69.26, which increases 0.34 point compared the data of yesterday. Molybdenum ferro price is stable, but ammonium tetramolybdate price has slight decreased.

Tungsten market: Tungsten market is weak. Tungsten concentrate and ammonium paratungtate price has declined and the decline range of APT is large than tungsten concentrate. Tungsten bar price is stable.  

International: Due to Thanksgiving Day the US dollar trading has slight decreased and interest rate increase may firm in December. European economy has not been affected by a series of turbulent events. The ECB President Draghi may announce to extend QE in December. US in October existing home sales are 5.6 million, growth of 2%. Societe Generale Bank also expects the Euro against the dollar will fall further and early next year the Euro against the dollar fell to 1: 1.

China: On Tuesday the commodity market increased sharply, the regulatory trading margin standard will adjust from 8% to 9% and limit of falling rate will change from 6% to 7%. Xi Jinping 21^st published a speech in the Peruvian Congress for two countries to develop the relations of friendship and cooperation. Form January to November this year the national power grid project investment is 410 billion RMB. 

Shanghai metal stock opened in the night and many metals price has declined. OPEC experts are trying to suggest that oil producers will cut production by 4 to 4.5% in each oil-producing country next week, and the results of the OPEC meeting on November 30 will remain uncertain. The industry will see a slowdown in oil prices. LME global copper inventories decreased by 4,800 tons to 242,275 tons, copper canceled warrants are 71,825 tons. It is expected 2016 refined copper production will increase 2.2% to 23.383 million tons and the growth rate is 1.7% next year.

The tungsten and molybdenum November 23, 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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