Tungsten and Molybdenum Latest Price – September 9, 2016
International News: The European Central Bank (ECB) announced to keep three main interest rates unchanged and asset purchases is about 80 billion euros. The European Central Bank expected 2016 inflation rate is 0.2%, which is similar to June expectation. The four largest central banks have invested nine trillion dollars into the world economy to encourage commercial banks lending to increase commercial and personal expenses. US August non-farm was sharply decline which affects US dollar to fluctuate. It is doubted that September OPEC Oil Freezing Production Agreement can come to an agreement.
China News: China August CPI annual rate may has slight declined and compared to last month raw material purchase price index has significant increased. China August CPI hits the lowest in this year and PPI decline range will slow. Beijing property market has good performance in September. Eight months investigation result of automobile companies to swindle new energy automobile subsidies was announced and the Ministry of Finance Department published five new energy vehicles enterprises illegal subsidies which are over one billion RMB. Hunan National Development and Reform Commission issued Hunan reducing large industrial electricity program, which can reduce large industrial electricity prices.
Industry News: the European Central Bank disappointed investors and US oil rose nearly 5%. August electrolytic copper production was 645,000 tons, affected by G20 the production has slight declined. Japanese buyers accepted fourth quarter premium aluminum is $75 for per ton. MIIT released secondary lead industry standard (draft) to guide the industry green development. September 7 global LME copper stocks fell, but the rest were unchanged.
Molybdenum market: Molybdenum market is weak but stable. The transactions of molybdenum concentrate are poor and ferro molybdenum transactions are also flat.
The price of molybdenum main products:
Tungsten market: The tungsten guide price decreased and there are differences in leading companies. Tungsten price after sharply decreased now is stable, but the industry still waits for recovering.
The price of tungsten main products:
The price of tungsten and molybdenum main products:
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