International: The United States announced the second quarter GDP annualized QoQ modification value, second quarter PCE annualized QoQ modification value and August University of Michigan consumer sentiment index. Overnight base metal is still on the bottom, but the low feeling hasn’t that strong. The dollar index after fell to increasing, US 10 contract oil continues to go up in the short term. Iranian Cemented Carbide Tips Oil Minister Zanganeh confirmed he will attend September OPEC production freeze negotiations, which will stimulate oil market to rise. US Federal Reserve Chairman Kaplan published hawkish remarks indicated September has possibility to raise interest rates.
China News: China’s National Association of Financial Market Institutional Investors (NAFMII) on the 24th announced CSC 2016 first phase credit risk mitigation warrant can to register. China debt market defaults rate is increasing, investors should be more cautious when investing. CRM marketdevelopment gradually to slow down, transaction activity is reducing. 31 provinces released the first half GDP ranking, there were 23 provinces GDP higher than national GDP. Electric car rental market has ¥ 20 billion market potential and it is become investment hot spot. The CPC Central Committee tungsten carbide weight Political Bureau held meeting on July 26, Beijing and Tianjin considered introducing new measures to control housing prices.
Industry News: Indonesian nickel-iron ore supply is positive alternative to the Philippines. JiangXi Copper Corporation was the first time to make up the deficits and get surpluses and from January to July the net profit is about ¥ 27.07 million. On August 17~19, 2016, the industry has explored the non-ferrous metalprocessing industry sustainable development new model. Overseas stock is surging, so copper market has large pressure.
Molybdenum market: Molybdenum concentrate price has slight change and molybdenum ferro transaction is small. The molybdenum market is stable in the short term. It is said that in the future the market will go up.
The price of molybdenum main products:
Tungsten market: Tungsten concentrate after slight decrease is stable. The finished tungsten products transaction is poor, especially sodium tungstate. There is little demand in scrap tungsten market, so the price falls form the high place.
The price of tungsten main products:
The price of tungsten and molybdenum main products:
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