The latest analysis of tungsten market in China from ChinaTungsten Online: tight supply becomes the most factors in the price hike of tungsten concentrate, and the rally continues to drive tungsten price. 

Rare earth price in China remains stable today. With the relevant departments involved to control the rally in previous prices, some small businesses or traders declined their supply, thus recent rare earth price has a callback. Most market participants still believe that the supply of rare earth would be tight overall.

The latest price of molybdenum concentrate and ammonium tetramolate slightly recovers and ammonium tetramolate price is unchanged from previous session. After more than a week’s adjustment, the market mentality becomes better, trading volume improves and price sees a steady recovery. The movement in the demand side needs to be followed. 

Price of molybdenum products on Aug. 31, 2017

Picture of molybdenum bar

Peninsula Mines (ASX: PSM) has divested one of its assets in South Korea, the Daewha molybdenum-tungsten project. The sale will generate proceeds of nearly $700,000.

The price of europium oxide, terbium oxide and praseodymium neodymium oxide continues to edge lower today. In the first half of 2017, illegal exploitation and production have made the oversupply of rare earth market reversed.

The latest price of molybdenum concentrate, molybdenum oxide and ammonium heptamolybdate is unchanged from the previous trading day. 

Opening this week, Chinese tungsten market continues last week’s fierce gains. Prices of tungsten goods quickly break through different levels and with the support from supply side, the momentum is still advancing. 

The latest price of tungsten concentrate, ammonium paratungstate and tungsten rod continues to rise. Tungsten price in China keeps firm rising, market supply is still tight and the rally in raw material continues to conduct to the downstream consumers of cemented carbide. In the short term, tungsten market in China will keep rising supported by tight supply and demand, trading volume remains weak and businesses will be more cautious in the their operations.

Price of tungsten products on Aug. 29, 2017

Picture of tungsten trioxide

Today's rare earth market: a price correction seems to be happened in Chinese rare earth market, dysprosium price continues to remain weak trend and praseodymium neodymium market leading previous rise shows risks in high level. Most market participants believe that the price adjustment will help stabilize the market, and with the maintenance of fundamentals, rare earth prices still have room to rise in afternoon market. On the contrary, if the market continues to speculation, it will lead to more market intervention.

Price of rare earth products on Aug. 29, 2017

Picture of ammonium molybdate

The latest price of molybdenum concentrate, ammonium molybdate and ferromolybdenum is unchanged from previous session. The supply and demand refuse to budge. Molybdenum market in China is quiet and its price trends to be stable after weakening. A new round of bidding in steel mills needs to be concerned and downstream demand needs to be followed.

Last week, molybdenum market in China was weak, and trading volume was declined, thus influencing buyers’ confidence of supporting higher price. In molybdenum concentrate market, the quantity of shipping is still restrained by the Central Environmental Protection Inspectorate. Part of sellers are willing to rise their price as supply is steel tight, but weak demand colds the market trading atmosphere. Sellers are cautious to sell their goods. 

In ferromolybdenum market, the rally in its price is hard to maintain despite a slight increase of biddings in steel mills. Bidding price also declines. In molybdenum chemical and alloy market, price is greatly affected by the material side and new orders are unpromising. But markers are wills to stabilize the current price due to high cost and expectations on high season in September and October. 

On the whole, under the stalemate between supply and demand, the short-term operations in the molybdenum market suggest being stable and domestic molybdenum price may have room for improvement.

International, quotations follow the Chinese market. International molybdenum oxide price at Platts Metals (US MW) quote USD 8.2 - 8.35/lb and European molybdenum price quote USD 20.1 -20.35/kg.

Price of molybdenum products on Aug. 29, 2017