Analysis of latest tungsten market from ChinaTungsten Online

Tungsten prices in China tend to stabilize this week after a fast decline in July. Manufacturers’ product profits are cut greatly and they appear unwilling to sale at present. A new round of environmental protection inspection will be launched on August 20 and insiders are in wait-and-see mood.

Chinese molybdenum prices retreated on limited new increased orders. Ferro molybdenum price slid from RMB 132,000 per ton to RMB 130,000 per ton. While ammonium heptamolvbdate price stabilized at RMB 128,000.00 per ton.

The latest prices of neodymium oxide, dysprosium oxide and praseodymium neodymium metal stabilize on Thursday August 16 in Chinese market. Affected by a new round of environmental checks, the relationship between supply and demand is in a stalemate, and market participants wait and see the outlook. Rare earth price will maintain stability in the short term without clear guides from the market. 

RMB exchange rate trend

Devaluation of RMB

Let’s look back the exchange rate of RMB. Last week, RMB closed at around 6.85 against the dollar, while it fell sharply on Monday's opening, opening at 6.86 and closing at about 6.87.