Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten powder prices in China continue to keep firm in late April despite major tungsten listed companies raised their bid prices. With the approaching of Labour Day holiday and environmental checks coming to an end, participants become more cautious and trading seems tepid. 

China’s molybdenum concentrate and molybdenum oxide prices edge higher while ferro molybdenum price is unchanged from the previous trading day on April 28, 2021. Now steel mills concentrate to carry out their tenders and suppliers have the confidence to keep firm offers. The short-term market price is not likely to decline.

Rare earth market quotation in China: europium oxide price climbs slightly while praseodymium oxide and neodymium oxide prices continue to decline on April 28, 2021. 

Due to the vigorous development of electric vehicles in recent years, the application of cobalt in lithium batteries has become more widespread. Some experts pointed out that because China’s controls more than 60% of the global Co supply, the metal is likely to become another card for our country to retaliate against other countries after rare earth.