Analysis of latest tungsten market from Chinatungsten Online

Surplus supply has weighted on tungsten concentrate and ammonium paratungstenstate (APT) prices over the past couple of months in the Chinese market and is expected to further press transaction prices over the next two months as heavy rains in Jiangxi province have reduced production by around 20opc. 

Rare earth market quotation in China: the latest prices of praseodymium oxide, lanthanum oxide and praseodymium neodymium oxide remain stable due to quiet market in early July. For medium and heavy rare earth elements, most insiders think the market would continue its upward trend after a slight decline; and for light rare earth elements, oversupply still worries people and market trading seems down, so the market is weak at present. 

Molybdenum market quotation in China: the latest prices of molybdenum concentrate, molybdenum oxide and molybdenum bar maintain stability in early July on tightening availability of raw materials but persistent weakness in the demand side. Traders keep stable sentiment, waiting for the moves in fundamentals, policy, and news.

Estimates vary, but it’s likely that China controls more than 80% of the world’s tungsten production.

A group of researchers at tungsten specialist Wolfmet, Manchester, UK, have developed a method to additively manufacture complex tungsten components for high-precision applications such as collimators and radiation shields in CT, SPECT, MR and X-ray imaging systems.

Huge reserves of tungsten mine creates value as well as brings a resource crisis, just like China's rare earth events, policy makers have realized the seriousness of the problem and introduced corresponding protection measures.

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten prices continued the downward trend in the week ended on Friday June 28, 2019 owing on weak market confidence, low buying appetite of terminal market and buyers demanding for lower product prices. 

Rare earth market quotation in China: domestic rare earth prices remained weak adjustment in early July as the G20 summit on the weekend and the Sino-US economic and trade consultations have an obvious influence on market sentiment. The rare earth prices rose sharply in the previous period has gradually declined, considering transactions hardly following up the high prices. At present, oversupply still weights on rare earth prices and most market participants take a watchful stance. 

Opening this week, China molybdenum prices remained unchanged from last week under stabilized offer levels in major production areas in June and steel tenders for ferro molybdenum. Recently, many markets besides China have taken a break for summer while the market in China also gradually enters off season. So traders remain low trading activity. The whole market is now caught in wait-and-see atmosphere, with rare transactions concluded. 

Tungsten concentrate price and the tungsten mine output trend are basically keep the same for more than 100 years in the past, and gradually rise in turbulence, it is being closely related to the speed of global economic development. Its price has skyrocketed due to international wars and crises, while in the 1980s, low-cost Chinese tungsten concentrates gradually occupied the global market, the oversupply led to a long-term downturn in its price.