Speciality Metals International Ltd has signed transaction documents for the acquisition of 100% of Mt Carbine Quarries Pty Ltd, an entity that owns and operates the Mt Carbine quarry and mining leases ML4867 and ML4919, to produce tungsten.

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten prices remain stable on the wh0le as the market shows more positive factors. Sellers now are reluctant to sell their products at low prices while downstream buyers still keep low trading activity. The imbalanced relationship between supply and demand is continuing in the tungsten market. 

There is potential for a supply deficit in 2019 and 2020 as tungsten output from existing mines looks set to decline; ore grades at some of the larger and older Russian and Chinese mines are falling as resources become depleted. Importantly, there are no plans in China to bring online new tungsten mines to replace these depleted deposits, according to Roskil. 

Rare earth market quotation in China: the latest prices of terbium oxide, neodymium oxide, dysprosium oxide and praseodymium neodymium oxide continue to climb. On the one hand, market participants are optimistic about the late supply due to limited imports; on the other hand, after a long period of decline, praseodymium and neodymium prices start to rebound. Additionally, the new environmental checks also raised sellers’ strong rised mentality and boosted downstream inquiry, despite of continued thin trading.