Rare earth prices in China are unchanged from last week on quiet market trading. Under the continuous pressure of environmental protection in various provinces and cities, the production in light and heavy rare earth smelters has slowed down, and the supply of spot goods has been slightly tightened. 

Tungsten and rare earths production quotas released by the Ministry of Industry and Information Technology and the Ministry of Natural Resources. The two ministries jointly issued plans on the total amount of rare earth mining, smelting and separation control indicators and the total amount of tungsten mining control indicators for the year of 2019. The notice pointed out that rare earths and tungsten are products strictly controlled by the state in terms of total production control, and any unit or individual shall not produce without a plan or surpass plan.

Molybdenum market quotation: the latest prices of ferro molybdenum and molybdenum concentrate declined slightly while molybdenum bar price remained unchanged from last week on deadlocked supply and demand in the market. 

Tungsten ore reserves have been increased fourfold since new China's founding, according to the "China Mineral Resources (CMR) Report 2019". Chinese major mineral resources have been identified as resource reserves growth, geological exploration investment growth and significantly prospecting achievements.