Analysis of latest tungsten market from Chinatungsten Online

Early in April, Chinese tungsten market is caught in heavy wait-and-see atmosphere as the offer levels of tungsten prices are not settled down completely at the beginning of VAT reform. 

China molybdenum prices are unchanged from the last trading day in the week to Wednesday April 3. With the support of high costs of molybdenum ores, molybdenum concentrate sellers have strong rised mentality and prices are at a relatively high level. 

Rare earth market quotation in China: lanthanum oxide price remains stable while prices of praseodymium neodymium oxide and praseodymium neodymium metal edge lower from the previous trading day. On Monday, the listed prices of in Southern Rare Earth have been mixed. The continued decline in terbium oxide products indicates that the market is expected to enter the rangebound pattern. The praseodymium and neodymium product prices are in the downward trend due to weak demand and imbalanced supply and demand. 

W Resources says it has found new higher-grade zones at its Régua tungsten project in Northern Portugal.

So far, 2.73km of drilling has been completed at the project comprising 916m of diamond core drilling and 1,809m of reverse circulation drilling. Highlights included 29m at 0.75% WO3 and 6m at 0.43% WO3.