The monitoring results of the monthly prosperity index of medium-color tungsten and molybdenum industry show that in May 2018, the prosperity index of medium-color tungsten and molybdenum industry was 40.7, which has increased for 7 consecutive months since October 2017, and is now operating in the upper part of the "normal" space. The leading composite index was 49.9, up 1.7 percent from April.

Sentiment index rose for 7 consecutive months, running in the normal range of the upper part

The monthly prosperity index of mid-color tungsten and molybdenum industry has increased for 7 consecutive months since November 2017, and now it has been running in the upper and middle part of the "normal" space.

In May 2018, in the form of molybdenum industry in nine indicators of sentiment, tungsten molybdenum price index, the M2, tungsten molybdenum exports, tungsten molybdenum on fixed assets investment, molybdenum tungsten carbide production, production index, the main business income, tungsten molybdenum tungsten molybdenum enterprise profit total 8 indexes in the "normal" range, crude steel production 1 indicators in a "partial cold" interval, not in a "cold" "partial heat index of" overheating "space.

The leading composite index has risen for four consecutive months

In May 2018, the leading composite index was 49.9, up 1.7 points from the previous month.

Among the leading synthetic indexes of tungsten and molybdenum industry, the price index of tungsten and molybdenum increased by 59.0%, M2 increased by 8.9%, the import and export volume of tungsten and molybdenum increased by 60.0%, the monthly investment of fixed assets of tungsten and molybdenum increased by 2.9%, the output of cemented carbide decreased by 8.5%, and the output of crude steel increased by 3.3%.

Industry situation

In May 2018, due to the impact of environmental protection and other factors, due to spot shortage of smelting products, the price of APT rose to 180,000 yuan/ton at the end of the month from 170,000 yuan/ton at the beginning of the month, with an increase of 6%. However, the market transaction is relatively light and there is a strong wait and see sentiment, which makes the price appear to be unmarketable and slightly overpriced, because the downstream price of tungsten carbide has not broken through and remains below 280 yuan/kg. On the other hand, the price of tungsten concentrate has decreased month-on-month, but increased year on year, and is now stable at around 110,000 yuan/ton. The main reason is that the stop-production of smelting enterprises makes the demand for raw materials small, and the output of raw materials is in a state of steady growth and low consumption, which further triggers the price drop. In May 2018, the average price of tungsten concentrate in China was 112,000 yuan/ton, up 34% year-on-year. APT's average price is 175,000 yuan/ton, up 37% year-on-year.

In May 2018, the international molybdenum market continued to decline in the first half of the year and recovered in the second half. Specifically, in early may, the international market was generally weak, with parts of Asia and Europe on vacation and trading was light. South Korea posco bidding results lower than market expectations in the middle of the downward pressure on prices. Domestic market overall stability, some molybdenum product prices declined slightly. From the perspective of raw materials, molybdenum concentrate market performance in May is good, the mine state of mind is stable, product quotation changes little. From the purchase of downstream steel mills, the total bidding volume in May exceeded expectations while the purchase price was lower than the expected level. According to incomplete statistics, domestic mainstream steel mills purchased about 9,200 tons of ferrommolybdenum in May, with the price ranging from 107,000 yuan to 109,000 yuan per ton. In may, the price of molybdenum concentrate was 1616 yuan per ton, up 39.6% year on year. The price of ferromolybdenum was 109,000 yuan/ton, up 36.3% year on year.

At present, the whole tungsten and molybdenum industry is in a "normal" space, but there are still some pressure in enterprise operation, market price and environmental protection inspection.