Tungsten Price Increasing with RMB Appreciation
Tungsten Price Increasing with RMB Appreciation
As the foreign exchange reserve keeps increasing, the pressure of RMB appreciation is heavier and heavier. At the same time, US dollar is depreciating which push forward the RMB appreciation. Also many western countries pose pressure on China to appreciate the RMB. So under the world s pressure, RMB is appreciating recently. With RMB values more, other countries people now have to pay more for Chinese products. And the cost for Chinese products such as tungsten is increasing also with high cost of labor forces and machine. So comparing with the same products in other countries, most Chinese products will have less competitiveness with this situation going on. In the near future, RMB is predicted to appreciate by 10~20%.
However, China is a big resource country with abundant valuable resources such as molybdenum, tungsten, rare earth, taking up to 50% of the total volume of the world. Although the price is increasing greatly, many people still need Chinese products. So if you have any interest to buy tungsten products, please take action ASAP before the price is going too high.
If you need any more details of the above news and/or products, please visit Chinatungsten Online, or contact us directly.
If you need any more details of the above news and/or products, please visit Chinatungsten Online, or contact us directly.
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