Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price kept weak adjustment in the week ended on Friday, June 10, 2022 mainly affected by the slow recovery in the demand side as well as the decline in new guide prices from state-owned tungsten companies. 

At the beginning of the week, China molybdenum market continued the trend of stabilization and recovery on June 13, 2022. Affected by the willingness of steel companies to enter the factory to bid for ferromolybdenum and the increase in bidding prices, the price of ferro molybdenum rose, and it is also led to the rise in the prices of many molybdenum chemical products such as molybdenum acid. 

At the beginning of the week, China’s domestic rare earth market was still tepid. Affected by the weak supply and demand, traders entered the market in a general mood, so prices of rare earth raw materials fluctuated in a narrow range and the transaction was lower than expected.

The rare earths (REE) target is ionic adsorption clay deposits located in South Australia (SA), and these clays contain four key elements used in magnets for electric vehicles and wind turbines: neodymium, praseodymium, dysprosium, and terbium.