The molybdenum price in China bottomed out in the week ended on Friday April 3, 2020 as downstream users became active in stocking up, boosting market confidence.

Tesla is working on a bid to deploy one of the biggest battery systems in the world with 244 Megapacks, the company's latest giant battery system, on a Hawaii to replace traditional power plants. This is also an important part of Tesla's deployment in the energy business. According to foreign media reports on March 30.

National Aeronautics and Space Administration (NASA) has shared the first pictures showing its new all-electric X-57 Maxwell plane on Twitter, which will be 500 percent more efficient than conventional aircraft while producing zero emissions and less noise pollution. The X-57 Maxwell aircraft will be the first manned X-plane produced by the administration in the past two decades and is designed to help develop standards for future all-electric aircraft, according to Mail Online report.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten market remained weak in the first trading of April due to cautious sentiment of downstream users and low trading activity. Ammonium paratungstate (APT) exporters experienced a slow market, while unrecovered downstream manufacturing, such as the automobile industry, in China also dragged the domestic tungsten market price down.

Lithium isotopes system, a sensitive geochemical tracer, can be used to track a wide range of geological processes and sources. Recently, sources and a proposal for comprehensive exploitation of lithium brine deposits in the Qaidam Basin on the northern Tibetan Plateau depending on the lithium isotopes have been unveiled by researchers. And the thorough understanding of the origin and distribution of lithium brine deposits is the foundation for lithium resource exploration, development, and utilization.

Analysis of latest tungsten market from Chinatungsten Online

The tungsten powder and tungsten bar prices in China continue to decline when many global industries expect a global slowdown in the second half of 2020 due to the impact of coronavirus. With the approaching of holiday of Tomb-Sweeping Day, most market participants take a watchful stance. 

The start-up FLX Bike launches eco-friendly lithium battery e-bikes recently. The company has raised $1.3 million in crowdfunding, far-surpassing its initial $20,000 goal, in less than one day, according to foreign media reports.

Per the mineral product summary 2020 data of U.S Geological Survey (USGS), the world's tungsten reserves were 3.2 million tons as of the end of 2019, of which the reserves in China were 1.9 million tons, which was the world's largest resource country; Russia, 240,000 tons, ranks second; followed by Vietnam, 95,000 tons; Spain, 54,000 tons; the United Kingdom, 44,000 tons; North Korea, 29,000 tons; Australia, 10,000 tons; and Portugal, 3100 tons.

U.S. Geological Survey mineral product summary 2020 data shows that as of the end of 2019, the world's molybdenum reserves were 18 million tons, of which China's reserves were 8.3 million tons, which was the world's largest resource country; followed by Peru, 2.9 million tons; the United States, 2.7 million tons; Chile, 1.4 million tons; Russia, 1 million tons; Turkey, 700,000 tons; Mongolia, 210,000 tons;  Armenia, 150,000 tons; Mexico, 130,000 tons; Argentina, 100,000 tons; Canada, 100,000 tons; Uzbekistan, 60,000 tons; and Iran, 43,000 tons.

Analysis of latest tungsten market from Chinatungsten Online

China ferro tungsten and tungsten powder prices continue to drop in the week began on Monday March 30, 2020 due to profit cuts of products and slowdown in manufacturing output. Most market participants take a watchful stance at the end of this month.