Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten concentrate and ammonium metatungstate (APT) prices are on a similar upward trajectory in recent days with the support of tight supply of raw materials due to environmental protection checks in major tungsten producing areas. 

China rare earth market as a whole showed a stable and weak trend, although the production and sales of domestic new energy vehicles in March increased by 2.5 times and 2.4 times year-on-year. 

China molybdenum price remained stable in the week ended on Friday, April 16, 2021 in the context of the decline in the activity of steel tenders and weak overseas molybdenum market. in addition, orders have fallen short of expectations.

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten concentrate and ammonium paratungstate (APT) markets strengthened following news of the environmental inspections in the middle of April. 

Rare earth market quotation in China: praseodymium oxide price rises slightly to 540,000 yuan/ton, neodymium oxide price drops to 85,000 yuan/ton and praseodymium and neodymium oxide price drops to 575,000 yuan/ton on April 15, 2021. 

China’s domestic ferro molybdenum and molybdenum powder prices are unchanged from the previous trading day when the whole market trading is not active and deals are limited. 

Analysis of latest tungsten market from Chinatungsten Online

The ammonium metatungstate (APT) and tungsten powder prices in China remain stable boosted by the rise in new reference prices for early April and strong rised mentality of raw materials. 

Rare earth market quotation in China: terbium oxide and neodymium oxide prices decline slightly while praseodymium oxide price climbs under many instabilities in the market. 

Molybdenum market quotation in China: ferro molybdenum, molybdenum concentrate and oxide prices increased slightly despite trading activity in the steel tenders and international molybdenum market declined. At present, insiders mainly pay attention to steel tenders and shipment of concentrate before the holiday of Labour Day. 

Britain, France, and Germany are about to mine rare earths in the Pacific to resist the monopoly of China. Rare earth elements (REEs) are essential elements for high-tech industrial production, while most of them produced in China. When disputes arise in other countries, China often uses rare earth exports as a bargaining chip. The British ‘Times’ reported that many countries in Europe and Asia are studying the extraction of REEs from the Pacific seabed, describing it as the international ‘rare earth race’.