Tungsten West PLC has been forced to halt operations at its Hemerdon project after experiencing significant cost increases this year. Inflation has pushed up the projected cost of electricity at the famed Devon tungsten development by a factor of 2.5, while diesel and ammonium nitrate prices are also rising. The price of ammonium nitrate has quadrupled in the last four months.

Analysis of latest tungsten market from Chinatungsten Online

China’s ferro tungsten and tungsten powder prices continue to be weak on May 12, 2022 with market offers showing slight difference due to different attitudes of participants. 

High precision turning reduces the cost of the tungsten carbide tool and minimizes setup time. Tungsten carbide tools are often used in the tooling industry as well as in punching, drawing, and extrusion applications. These dies are very wear-resistant and often have complex contours with the highest requirements for shape and surface finish. Because these workpieces are difficult to machine, they have traditionally been formed by grinding with diamond grinding wheels.

This week, China’s domestic rare earth price showed a slight upward trend as a whole, mainly due to the difficulty in increasing the supply of rare earth raw materials, the gradual resumption of work and production by downstream companies, and the fact that most industry players are optimistic about the market outlook. According to Chinatungsten Online, the prices of praseodymium neodymium oxide and terbium oxide rose by RMB 55,000/ton and RMB 700/kg respectively this week.