Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten powder markets continue to soften in response to weakening demand with both China and overseas markets entering the summer slowdown. Producers have to slash offer prices to min available considering the current low prices.  

Rare earth market quotation in China: the prices of terbium oxide, dysprosium oxide and DyFe drop slightly due to weak market confidence under the off season. Transactions need to be followed up in the short term. 

China molybdenum price remains weak adjustment amid low buying appetite and imbalance relationship between the supply and demand. Sellers have strong willingness to sell products while consumers' consumption for raw materials is weak. As a result, actual transactions are limited. 

Analysis of latest tungsten market from Chinatungsten Online

The Chinese domestic tungsten concentrate market has been under pressure since late October due to lukewarm demand from end users after customers retreated from the market. Concentrate suppliers cut their offer prices to encourage buying in the face of weak market confidence.

The prices of terbium oxide and dysprosium oxide drop slightly while neodymium oxide and praseodymium neodymium metal prices climb in the Chinese market in the middle of July.

Molybdenum market quotation in China: the prices of molybdenum concentrate, molybdenum oxide and molybdenum powder prices are in the downward trend owing to weak buying appetite and low trading activity. 

South Korea's SK Innovation Co Ltd (SKI), a supplier for Volkswagen and Ford Motors, plans to invest 6.6 billion to build a second battery plant in the US. The company and the Georgian government signed an investment contract of US$940 million (approximately RMB 6.6 billion). Construction of the plant with an annual capacity of 11.7 gigawatt-hours of batteries will begin in July in the southern state of Georgia with production aimed for 2023, the firm, already building its first factory there, said in a statement.

On tungsten and rare earth minerals, Kazakhstan plans to invest 2 billion US dollars for the exploration. The Ministry of Ecology, Geology and Natural Resources of the Republic of Kazakhstan recently stated that most of the resources being exploited in the country were proved during the Soviet period, and the output of some mining areas will be exhausted in the next 10 to 15 years. Therefore, the country plans to attract at least 2 billion US dollars for the exploration of domestic mineral resources. Besides oil and natural gas, the exploration objects may include tungsten, molybdenum, rare earth, and other metal minerals.

Tesla stated that it had signed a 2020 lithium battery pricing agreement with battery maker Panasonic for three years. The 2020 Pricing Agreement (effective as of April 1, 2020, until March 31, 2023) is about lithium-ion cells produced at its in Nevada (the cylindrical 2170-type used in Model 3, Model Y and energy storage systems).

Analysis of latest tungsten market from Chinatungsten Online

The ammonium paratungstate (APT) and tungsten carbide powder prices in the Chinese market continue to stabilize as the market is caught in wait-and-see atmosphere. Mainstream tungsten product prices mainly refer to the new guide prices from the tungsten associations.