Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained stable in the week ended on Friday May 24 as transactions were hardly concluded despite stabilized offer levels and large tungsten companies reducing production reduced the bidding for more sales. Currently, main factor that impacts product prices greatly is the relationship between supply and demand. 

China rare earth prices continue to climb but tend to show signs of stabilization compared with last week. The rapid rise and fall in China’s rare earth stock market in the short period of time has tested the market confidence greatly. In addition, downstream buyers also are cautious when product prices are at a relatively high level. But on the whole, under environmental checks, the ban on imports of rare earth mines in Myanmar and additional tariffs on some rare earth products from China to the United States in early June, the rare earth market is still optimistic.

China molybdenum prices tend to stabilize, but the decline in international molybdenum prices and new prices of domestic steel tenders weaken confidence of smelting factories. For molybdenum concentrate market, miners slow down the pace of production and sellers maintain their rised mentality, so low-price resources are hardly got at present.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continue to maintain stability as the market is still in a stalemate. Although environmental checks and tungsten factories reducing production raised insider’s confidence, the weak demand side and unstable economic environment also made purchasers cautious to trade. 

China rare earth prices rose sharply in the week ended on Friday May 24 on good expectations for the outlook. The Myanmar rare earth mines were forbidden to enter China, the state leaders inspected major rare earth production areas, plus with long-term positive effects of environmental inspections and the optimistic expectations of downstream permanent magnet industry for raw material demand, the market was caught in speculation atmosphere. 

Molybdenum market quotation in China: the latest prices of ferro molybdenum, molybdenum concentrate and molybdenum powder maintained stability in the week ended on Friday May 24. On the one hand, most participants remained cautious sentiment on unstable trading environment and declined international molybdenum prices. On the other hand, insiders showed different attitudes toward market trend on unclear guide prices from steel tenders. 

Speciality Metals International Ltd has signed transaction documents for the acquisition of 100% of Mt Carbine Quarries Pty Ltd, an entity that owns and operates the Mt Carbine quarry and mining leases ML4867 and ML4919, to produce tungsten.

There is potential for a supply deficit in 2019 and 2020 as tungsten output from existing mines looks set to decline; ore grades at some of the larger and older Russian and Chinese mines are falling as resources become depleted. Importantly, there are no plans in China to bring online new tungsten mines to replace these depleted deposits, according to Roskil. 

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten prices remain stable on the wh0le as the market shows more positive factors. Sellers now are reluctant to sell their products at low prices while downstream buyers still keep low trading activity. The imbalanced relationship between supply and demand is continuing in the tungsten market. 

Rare earth market quotation in China: the latest prices of terbium oxide, neodymium oxide, dysprosium oxide and praseodymium neodymium oxide continue to climb. On the one hand, market participants are optimistic about the late supply due to limited imports; on the other hand, after a long period of decline, praseodymium and neodymium prices start to rebound. Additionally, the new environmental checks also raised sellers’ strong rised mentality and boosted downstream inquiry, despite of continued thin trading.