Analysis of latest tungsten market in China from Chinatungsten Online: Mainstream tungsten price stabilizes at present with quiet market trading. Although sellers are willing to maintain high product prices, downstream demand is low. The quiet trading in the downstream market weakens the activeness of enterprises.

Molybdenum market quotation: raw material quotation is firm owing to the tight supply while downstream trading remains quiet. As a result, molybdenum product price continues to maintain stability. The latest price of ammonium molybdate, sodium molybdate and molybdenum bar is unchanged from the previous trading day. Affected by the environmental protection inspection recently, the operation rate in the whole molybdenum market remains at a low level. Without the admission of stimulus news, businesses will still wait and see.

Rare earth market quotation: Chinese rare earth price continues to maintain stability. The whole market has caught in heavy wait-and-see atmosphere since October, affected by government’s purchasing and storage, and groups joining together to support prices. 

It is understood that there are four deposits in the Perette tungsten mine: desert dolomite, gunmetal, garnet and hope. The total reserves of the tungsten ore are 17.5 million tons and the grade is 0.28%, with associated lithium, copper and silver. The major minerals are tungsten and lithium.