Analysis of latest tungsten market from ChinaTungsten Online

Chinese tungsten prices continue to be stable in the week under muted demand in the off season. Customers are reluctant to get back to the market and try to force offers down with tungsten raw material supply resumed. “There is excess of material in the market and insiders raise risk aversion,” a trader said. 

Chinese molybdenum prices continued to edge higher from last trading day, in which molybdenum powder price declined to RMB 230.00/kg from RMB 235.00/kg, and molybdenum oxide rose to RMB 1,950.00/kg from RMB 1,930.00/kg. 

Rare earth market quotation in China: rare earth prices are unchanged from the previous trading day as the supply side is under pressure. On the one hand, market supply is still limited under environmental checks and enterprises have ample stocks built in previous stage; on the other hand, market participants are reluctant to come back to market and trading volumes are limited. In addition, the policy side remains quiet. On the whole, rare earth prices are weak at present. 

Plymouth’s huge Drakelands tungsten mine has secured its short-term future with a £2 million loan – but will be conducting a major financial review into its finances as it is now more than £60million in debt.