Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained weak adjustment in the week began on Monday November 09, 2020 with the influence of lowered new average tungsten forecast prices from listed companies and associations, a persistently weak overseas market and few deals concluded within the assessed range.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the downward trend in the week ended on Friday November 6, 2020 as the market has been in an uncertain status recently. In addition, the new guide prices for the market edged lower, showing a negative sign for market participants. 

Rare earth market quotation in China: europium oxide, lanthanum oxide and cerium oxide prices are in the upward trend in the middle of November. As global economic environment is still complex, the seller's market has a greater advantage, and the overall buying and selling atmosphere is optimistic.

Molybdenum market quotation in China: ferro molybdenum, molybdenum powder and molybdenum oxide prices remain stable in the middle of November with the influence of active steel tenders. 

It is reported that Baotou Huizhong Magnetic Valley rare Earth Technology Co., Ltd. in Inner Mongolia uses a novel nickel and copper plating layer to form a coating on the surface of rare-earth magnets, which puts the doubles on the life of NdFeB magnets.

India is increasing its efforts to attract investment from other countries and Toyota Tsusho will build a rare earth plant in the country. At the same time, the Hindustan Times reported on Nov 6 that the country will significantly reduce the number of energy and power products imported from China.

The engineering team of the Swiss Federal Institute of Technology Lausanne (EPFL) used a 2D material called molybdenum disulfide (MoS₂) in the computer chip, which makes the chip work like neurons. The computer chip that combines two functions - logic operations and data storage - into a single architecture, paving the way to more efficient devices. Their technology is particularly promising for applications relying on artificial intelligence.

Including tungsten and molybdenum mines, 79 mineral deposits are discovered nationwide recently. The Ministry of Natural Resources recently released the "China Mineral Resources Report (2020)". The report disclosed that in 2019, the national investment in geological exploration was 99.34 billion yuan, of which the investment in oil and gas geological exploration was 82.129 billion yuan, an increase of 29%; the investment in non-oil and gas geological exploration was 17.211 billion yuan, a decrease of 0.9%. There are 79 newly discovered mineral deposits nationwide, of which 55 are large and medium-sized.

According to data recently released by the International Molybdenum Association (IMOA), global molybdenum production in the second quarter (Q2) of 2020 was 67,222 tons, an increase of 3% month-on-month and year-on-year; global Mo consumption in the Q2 of 2020 was 57560.6 tons, an increase of 3% month-on-month and a year-on-year decrease of 14%.

From tungsten resources to tungsten deep processing, Jiangxi Jiangwu Cemented Carbide Co., Ltd (JTCC for short) was listed to the fifth batch of green factories. A few days ago, the Ministry of Industry and Information Technology announced the fifth batch of green manufacturing lists, including 719 green factories, 1073 green design products, 53 green industrial parks, and 99 green supply chain management companies. Among them, JTCC was selected as the green factory.