Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten prices remained weak adjustment in the week ended at Friday April 4 as tungsten institutions and listed companies lowered the new round of guide prices and buyers remained low buying appetite. 

Rare earth market quotation in China: domestic rare earth prices continued to show different market trends. For the medium and heavy rare earths, limited import of Myanmar mines boosts market confidence and sellers tend to raise offer levels. For the light rare earths, their product prices are in the downward trend on imbalanced supply and demand and the unclear outlook after the reform of VAT.

China molybdenum prices continued to maintain stability in the first trading day after the holiday of Qingming Festival. For the positive side, the tightening availability of tungsten concentrate support sellers’ rised mentality and the stability in prices and quantity of steel tenders also increase trading activity. For the negative side, downstream remained low buying appetite while smelting factories receive few orders. Given that, the market will stabilize in the short term. 

Roskill Information Services, London, UK, has reported on China’s new tungsten mine production and rare earth quotas for the first half of 2019. In March, China’s Ministry of Natural Resources and the Ministry of Industry and Information Technology set tungsten quotes for the first half of the year at 49.8 kt (65% WO3 basis), while rare earths quotas were set at 50.4 kt of light rare earths and 9.6 kt of medium and heavy rare earths.

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Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices in China are unchanged from last week as market mentality is different for the industry chain affected by the reform of VAT this month. The offer levels in the market is not stable and thus terminal buyers slow down their pace of purchasing and actual transaction prices also show signs of decline.

Rare earth market quotation in China: prices of lanthanum oxide, cerium oxide and praseodymium neodymium oxide edged lower in the week began on Monday April 1, 2019 owing to continued deadlocked supply and demand and weak confidence of sellers. But for heavy rare earth products, their prices maintain stability as sellers are reluctant to sell on expectations of tight supply. 

Molybdenum market quotation in China: prices of molybdenum concentrate and molybdenum oxide declined slightly while molybdenum powder price remained unchanged in the week ended at Thursday April 4. 

Analysis of latest tungsten market from Chinatungsten Online

Early in April, Chinese tungsten market is caught in heavy wait-and-see atmosphere as the offer levels of tungsten prices are not settled down completely at the beginning of VAT reform. 

Rare earth market quotation in China: lanthanum oxide price remains stable while prices of praseodymium neodymium oxide and praseodymium neodymium metal edge lower from the previous trading day. On Monday, the listed prices of in Southern Rare Earth have been mixed. The continued decline in terbium oxide products indicates that the market is expected to enter the rangebound pattern. The praseodymium and neodymium product prices are in the downward trend due to weak demand and imbalanced supply and demand.