Molybdenum News Center

Tungsten and Molybdenum Latest Price – December 2, 2016

Molybdenum market: Ammonium tetramolybdate and ammonium heptamolybdate prices are still weak. Molybdenum oxide price has slight declined. People want to wait for market recovery, so the transaction is small.

Tungsten market: Ammonium paratungstate price is stable, but the transaction is little. Tungsten powder and tungsten carbide powder has slight declined.

International: The DJW creates new high of closing, developed countries bond market crashed and NQCI declined more than 1%. The investors worried about the European political Black Swan Even may impact on the market. The European Central Bank next week may release the signal of QE indicated to extend OE expiring date, but due to complex market situation ECB will end QE plan in the future. The production agreement stimulates oil price to rise and Brent crude oil increased 4% hits a 15 months high.

China: The scale of tax cuts this year is more than 600 billion RMB. 2017 tax cuts scale may exceed 700 billion RMB. People’s Bank of China in November put 802.9 billion RMB into circulation by SLF, MLF and PSL, which is conductive to cash flow, and follow-up MLF may increase. Distributed Photovoltaic power plant construction speed, installed capacity by the end of year more than 10 million kilowatts.

Aluminum Corporation of China reached a preliminary agreement with the Peruvian government, 1.3 billion US dollars capital injection on the Toromocho project. China's commodity prices go up beyond people’s expectation and ferrous metal has best performance, but the power plant is first to suffer. The end of year there is competition between copper mining and smeltery and Jiangxi Copper has been the protagonist for six consecutive years. Australia's Portland aluminum smelter power was outage on Thursday and restart date for production is inconclusive.

The tungsten and molybdenum December 2, 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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