China rare earth prices showed a low-level fluctuation in the overall pattern with increased market inquiry but limited trading volumes. Recently, under the strong rectification of inspectors, high temperature and heavy rainfall weather and the “parade of blues”, the total output of most mining enterprises has declined, and the awareness of reluctance to sell has increased. 

According to the report, U.S. electric vehicle maker Tesla Inc is in advanced talks with South Korea’s LG Chem Ltd to source batteries for vehicles to be made in its Shanghai plant. As a result, it will help accelerate the layout of the high-end lithium batteries industry.

China molybdenum prices remained weak adjustment in the week ended on Friday August 23, 2019 due to persistent stalemate in the industry chain and different sentiments of traders. The space for price decline of purchasers and a rise in selling prices was limited. 

Reuters reported that after the Sino-US trade war has heated up rapidly, MP Materials, the only rare earth mining company in the United States, said it will double its staffing as one of the strategies to build refining strength. This is part of the American strategy to strengthen refining capacity after the Chinese tariff escalation process has been raised.