LG Chem announced on October 21 that it has become the first South Korean battery manufacturer to join the Responsible Minerals Initiative (RMI). According to industry insiders, LG's move is to ensure the safety of tungsten and cobalt raw materials procurement for the development of the European power battery market.

Rare earth market quotation in China: terbium oxide, neodymium oxide and praseodymium oxide prices remained weak adjustment due to low trading activity and wait-and-see atmosphere. Under mixed situation, it is difficult to effectively improve the terminal demand, resulting in a small number of rare earth smelters offering a small amount of low-cost sources, but due to the impact of environmental protection inspection, some mainstream mines enterprises still have a strong price psychology.

Analysis of latest tungsten market from Chinatungsten Online

The ammonium paratungstate (APT) and tungsten powder prices are in the downward trend affected by the decline in new tungsten forecast prices for the second half of October. The market confidence is weak and insiders are uncertain about the market outlook. Therefore, the whole market remains cautious operations. 

Molybdenum market quotation in China: the latest prices of ferro molybdenum, molybdenum concentrate and molybdenum oxide continued to decline on quiet trading and cautious sentiment. Most upstream manufacturers kept firm prices but downstream market did not follow up.