The latest price of ammonium molybdate, ammonium heptamolvbdate and molybdenum powder climbs slightly in Chinese molybdenum market. The supply in raw material market remains tight under environmental checks while market demand follows up slowly. Operating rate of factories is limited in the off season and downstream companies’ profits reduce due to rising raw material prices.

Analysis of latest tungsten market from ChinaTungsten Online

Chinese tungsten prices maintained weak adjustment last week as muted demand weakened advantages brought from environmental protection policy. Smelting factories resumed work following the end of inspections, but purchasers still were reluctant to come back to the market and thus deals were hardly concluded. 

On the evening of the 3rd, Customs Tariff Commission of the State Council of People’s the Republic of China issued a notice to decide to impose tariffs on some imported goods (second batch) originating in the United States. On July 11, 2018, the US government issued 10% increase on imports of about US$200 billion from China. In response to the above measures by the US, China was forced to take countermeasures. According to the "PRC Foreign Trade Law", "PRC Import and Export Tariff Regulations" and other laws and regulations of international law, the State Council Customs Tariff Commission decided to impose tariffs on 5,207 tax items imported from the United States. The measure involves an import trade volume of approximately US$60 billion from the United States.

Rare earth market quotation in China: domestic rare earth price remains weak adjustment earlier in this week, affected by Sino-US trade friction and quiet policy news of the industry. Downstream enterprises have not high interests in stocking up at present. The environmental checks reduce downstream factories’ operating rate when it benefits raw material market to some extent. In the short term, Chinese rare earth prices will continue this trend.