Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the downward trend in the week ended on Friday June 17, 2022 with the impact of continued weakness in the demand side despite of economy growth. 

At the beginning of the week, China’s domestic rare earth price was generally in a narrow range. Affected by the relative balance between supply and demand, traders were generally less motivated to enter the market.

At the beginning of the week, China’s molybdenum market continued to be strong. Although the price of molybdenum products rose significantly last week, steel companies and other buyers were afraid of high prices, resulting in a slight slowdown in the actual transaction. 

Earlier this month, USA Rare Earth LLC (USARE) announced that it will develop a U.S. rare earths and magnets production facility in Stillwater, Oklahoma. McAfee & Taft was pleased to serve as legal counsel to USARE in its acquisition and development of the nation's first rare earth metals and sintered magnet production facility in Stillwater, Oklahoma.

Lynas has secured a $120 million contract from the U.S. Department of Defense (DoD) to build a heavy rare earth separation plant in the United States. Lynas wants to build the plant on the same site in Texas as the proposed light rare earth separation plant. Construction costs for the heavy rare earth plant are being covered entirely by a $120 million contract funded by the US DoD Industrial Base Analysis and Sustainment program.

Luminex Resources announced the discovery of a porphyry copper-molybdenum porphyry target located 500 meters north of its El Hito property at its Condor project in southeast Ecuador. The target area is characterized by overlapping anomalies of >250 ppm copper and >10 ppm molybdenum as delineated by a recently completed soil survey.

Titan Minerals continues to show excellent copper (Cu) and coincident molybdenum (Mo) results from access sampling at its Linderos project in southern Ecuador. This work highlights a typical zonation anomaly, about 750 m in diameter, with a central core of Cu, Mo, and tungsten and a peripheral halo of selenium, tellurium, and bismuth.

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices continue to decline in the middle of June, 2022. Recently, consumer coupons have been issued in many places, including 3C products and auto subsidies, which have boosted the vitality of the consumer market. It also coincides with the 618 online shopping festival and the overall consumption activity in the domestic market has increased. 

China rare earth market was tepid in the week ended on Friday June 17, 2022. Due to the current weak market supply and demand, traders are not very motivated to trade, so it is difficult to update rare earth prices and transactions are slow. Currently, the prices of praseodymium neodymium oxide and terbium oxide are about 955,000 yuan/ton and 14,500 yuan/kg, respectively.

China molybdenum price was in the upward trend in the week ended on Friday June 17, 2022, which is mainly reflected in the generally high sentiment of traders entering the market and the increase in transaction volume.