With the guidance lower, tungsten market demand remained weak, the market sentiment strong bearish, tungsten smelters were forced to offer lower again, native low tungsten prices have fallen to 190 yuan / kg, the actual transaction is expected to tungsten carbide or late fall 190 or less.

Macro, May CPI fell out of the loose space, in June to cut interest rates drop quasi expected warming; environmental Thirteen Five Plan steering dual objectives, investment is expected to exceed 17 trillion; relaxing fund the purchase of first-tier cities.


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Yesterday, the provincial Department of Finance, Provincial Development and Reform Commission jointly issued "on the clean-up of rare earth tungsten and molybdenum related issue of fund fees notice", according to the Ministry of Finance, the National Development and Reform Commission and the relevant regulations, submitted to the provincial government agreed, deciding to Su province involving rare earths, tungsten Mo fund charges a comprehensive clean-up.

The circular clearly, since May 1, 2015, a unified province rare earth, tungsten, molybdenum mineral resources compensation rates to zero, stopping the collection of rare earth, tungsten, molybdenum price adjustment fund. According to the principle of charging the Fund for approval, administrative fees implement the central and provincial levels and approval system, the implementation of government funds at the central level approval system, where the violation fee fund approval regulations, unauthorized introduction of duplication and can not meet the economic and social development and taxation System requirements fee fund projects to be canceled. Fees for the central fund established in accordance with the relevant policies and regulations must be strictly implemented, will be allowed to expand the scope of the collection, improve collection standards or otherwise subject to any fees. Cancel or stop collecting after involving rare earths, tungsten, molybdenum, the fees the fund, the relevant departments to perform their normal duties requirements, shall be guaranteed by the corresponding financial arrangements for funding by the general public budget.


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Gold-plated tungsten alloy is a kind of product, which is plated gold on the surface of tungsten alloy. Due to the density of tungsten alloy can be up to 18.5g/cm3, which is close to the density of gold 19.3g/cm3, tungsten alloy materials can achieve similar density to the real gold products after gold plating process.

Nowadays gold-plated tungsten alloy products as gold substitution are widely used in producing golden tungsten brick, gold-plated tungsten alloy bars, gold-plated tungsten alloy bullion, gold-plated tungsten alloy nugget, etc. It also can be used to make tungsten alloy jewelry, e.g.: tungsten gold-plated ring, tungsten gold-plated ear ring, tungsten gold-plated necklace, tungsten gold-plated wrist chain, etc. In addition, gold-plated tungsten alloy products can also be used as gold-plated commemorative coin for anniversaries or celebrations.

With the wide development of gold-plated tungsten alloy technique, some cheaters made use of the clients’ weak awareness to distinguish the gold-plated from the real gold, they cheated tungsten gold is the gold-plated tungsten alloy or the real gold, which caused some fraud cases and led to a rather bad consumption environment. The tungsten gold frauds happened in these years, for example, the value of 170,000.00 RMB gold-plated tungsten alloy bars had been blown to be the value billions RMB of "tungsten gold" in 2008,cheaters cheated they owned billions RMB of tungsten gold in 2014, and the cheaters cheated an old acquaintance of 5 millions.

Tungsten gold is actually a kind of tungsten alloy. In order to match the sales of market, the exclusively title of “tungsten gold” was came up. It seems to be an exaggerated description of tungsten alloy. Actually, tungsten gold is the product that plating gold on the surface of tungsten alloy. The fake tungsten gold may be filled with other metal materials instead of tungsten alloy, which has the same surface with gold-plated tungsten alloy or the real gold.

There was a report said that there are so many counterfeits were disclosed by a random inspection of jewelry market in Guangzhou on June 5, 2015. It reported that most "Platinum" are not containing platinum, which caused lots of frauds cases in platinum market. In China, many people name “white gold” for Platinum, so some unscrupulous operators made use of such an ambiguous name, selling white metal as platinum products.

Consumers should have a sense to distinguish tungsten gold or real from gold-plated tungsten alloy, so as not to be cheated.

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Zhejiang Provincial Department recently issued a notice of tungsten ore mining total control targets the year 2015, and the total amount of tungsten ore mining and management put forward. Zhejiang Provincial Department issued a notice requirements, issued 2015 annual tungsten concentrate (tungsten trioxide content of 65%) of the total production control indicators 650 tons, 500 tons of which the main mining indicators, utilization indicators 150 tons. County (city) land and resources bureau is responsible for notifying the location of mining enterprises, the indicators put in place.

The Office proposes to carry out the supervision management and total production control target responsibility assessment index implementation. First, it will urge the county (city) land and resources bureau and mining exploration companies signed letters of responsibility for control targets aggregates, and on June 10 will be the responsibility of ministries and agencies for the record books. Second, it will urge the county (city) land and resources bureau to do mining enterprises selling online reporting quarterly review of the data, after the relevant data by the Municipal Bureau of Land and Resources Audit online reporting ministries and agencies. Third is to strengthen supervision and control of the total mining index implementation, urging local land and resources departments to strengthen the mining enterprises, sales of daily inspection, implementation of regulatory responsibility to ensure that the total amount of mining enterprises controlled within the assigned targets.


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Tungsten market: a comprehensive guide price sharply lower in June, once again frustrated tungsten business confidence, enthusiasm weaker operating tungsten concentrate smelter stopped production increase, scrap tungsten steel traders wait and see, so ferrotungsten manufacturers offer a substantial reduction in earnings contraction. A few months before the main downstream manufacturers underemployment, guided very price failed, causing the crash is expected this month, consumption of concentrate inventory. Tungsten spot market transactions deadlocked this week, tungsten products sold or Yindie.

June comprehensive guide price sharply lower, tungsten business confidence once again frustrated, operating enthusiasm weaker tungsten concentrate smelter stopped production increase, scrap tungsten steel traders wait and see, tungsten spot market transactions deadlocked this week, tungsten products sold or Yindie .

Macro, May economic data released today, CPI or an increase of 1.4%; oil settled down 92 cents gasoline cheaper 9; decline in Chinese exports continued to decline in May.


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Tungsten market: the current lack of demand, the tungsten market continued malaise, Minmetals June guidance relative to last month, down 5,000 yuan / ton, but still higher than the actual market price, currently 65 degrees wolframite mainstream price 79,000 yuan / ton, more than 80,000 quotations decreased, and shipments will hold stocks lower, downstream tungsten smelter family also purchasing enough positive cash turnover continued stalemate. Minmetals guidance is expected by the impact of sharply lower, miners confidence or weaker, or slipped ore price this week.

The current lack of demand, the tungsten market continued malaise, guidance on tungsten prices influence weakened, early June tungsten smelter home to win orders in advance before the guidance issued to have lower offer, tungsten concentrate guidance experienced two months of continuous sharp decline after steady again, Ganzhou Tungsten Industry Association and China Minmetals were recently published forecast in June the average price of tungsten concentrates, which forecast the average price of wolframite reported 81,000 yuan / standard ton, down from last month 5000 yuan, a decline of 5.8%, the weak spot market transactions.

65 degrees wolframite current mainstream price 79,000 yuan / ton, more than 80,000 quotations decreased, and shipments will hold stocks lower, downstream tungsten smelter family also purchasing enough positive cash turnover continued stalemate. Downstream tungsten iron, tungsten chemicals, tungsten products prices were also subdued, information display, tungsten, iron sluggish market demand, the price of tungsten concentrate as raw material prices fall and decline, since most smelters stopped production and makes some manufacturers offer strong at 14 yuan / ton or more. APT sluggish sales, spot market transactions are frequent and cheap, analysts expected this month or tungsten concentrate prices may still fall, the mainstream or 7.8 yuan / ton, lower than the guide price 3000 yuan / ton.


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Minmetals June guidance relative to last month, down 5,000 yuan / ton, but still higher than the actual market price of tungsten is expected by the impact of sharply lower Minmetals guidance, confidence or weaker miners, ore prices this week or slipped.

Macro, north of Guangzhou-Shenzhen to promote the fund to support the purchase, Guangzhou again relax the policy; policy "red lines" settled: National Regulatory containment Guoziliushi overweight; former institutions predict that May investment growth fell below 12%.


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MOUNTAIN PASS, Calif.—In the dusty mountains of the California-Nevada border, 4,800 feet above sea level, the U.S.’s only miner and processor of rare-earths elements is struggling to squeeze a profit out of its small open-pit mine and plant.

On Monday, Molycorp Inc. said it would skip a $32.5 million loan payment, triggering a 30-day grace period that could lead to a bankruptcy filing before the end of June. The company is trying to survive one of the biggest commodity bubbles in economic history. Now with a market capitalization of around $150 million, Molycorp is indebted and unprofitable. Customers are putting in orders, but the company hasn’t met production targets at Mountain Pass.

The rise and fall of rare earths, and that of Molycorp, illustrate the fragility of betting on materials. It also echoes risks for investors that have lurked beneath any buildup of artificial demand, from tulips in the 1630s to railways in the 1840s to Internet firms in the 1990s.

In 2010, shortly after Molycorp—formerly a unit of ChevronCorp. sold to private-equity firms in 2008 for $80 million—raised $394 million in a public offering. Around that time, China tightened existing quotas on rare-earths exports in a bid to rein in overproduction and keep more supply available for domestic manufacturers.

In late 2011, the bubble popped, along with Molycorp’s share price. China relaxed restrictions on exports, oversupplying a market of only up to 140,000 tons a year. The iron-ore market is two billion tons a year.

Since 2011, prices for the rare earths lanthanum and cerium, have fallen to under $4 a kilo (2.2 pounds) from over $150 a kilo; and prices for neodymium have declined to under $60 a kilo from over $330 a kilo. Overall, the rare-earths market has shrunk to a billion-dollar market from one worth over $15 billion.

Even as scarcity fueled by Chinese quotas on rare-earths exports drove up Molycorp shares, engineers went to work finding substitute ingredients. “And the high prices back then encouraged more mining,” says Dudley Kingsnorth, an Australian academic who has advised the U.S. Department of Defense on rare earths.

In late 2012, Mr. Smith was dismissed without a statement from the company. Mr. Smith defends his record as CEO, arguing that he was focused on simply building a profitable mining company, and noting that the government’s investigation indicated no wrongdoing.

Molycorp has suffered three straight years of quarterly losses. It has $1.7 billion in debt. It had aimed to produce 20,000 metric tons a year at Mountain Pass. Instead, it has been able to generate only slightly more than half that amount. The stock price has fallen to under a dollar per share. The company warned investors in April that if prices and profits don’t improve, it will have to “cease operations as a going concern.”

The popping of the rare-earths bubble has also harmed the fortunes of hundreds of small prospecting companies trying to exploit new deposits all over the world, and Australia’s Lynas Corp., the other big rare-earths producer outside China, which has struggled to turn a profit.

Geoff Bedford, who took over as Molycorp’s chief executive in 2013, insisted in a recent interview that the company’s deposit was “very good” but said the company has had problems with processing. On a recent tour of the company’s processing plant, manager Rocky Smith showed off buildings packed with pipes and large tubs where the rare-earth ore is crushed, floated and leached.

The company’s big sellers are neodymium and praseodymium, used to make magnets in cellphones, cars and computers, and lanthanum, used to refine petroleum.

Molycorp hopes new contracts can save it. In April, it announced a 10-year deal with Siemens AG. “We also buy from China, but for us it’s important to diversity the sourcing of our magnet material,” said Bernd Eilitz.


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