Analysis of latest tungsten market from Chinatungsten Online

China tungsten market was quiet in the first trading day after the holiday of National Day on continued deadlocked relationship between supply and demand. Considering the limited inventories of upstream mines and smelting factories, and relaxed environmental protection policy after the holiday, the trading in the spot market would be expected to recover. 

Rare earth market quotation in China: the europium oxide, cerium oxide and praseodymium neodymium oxide prices are unchanged from the previous trading day due to low trading activity and cautious sentiment of traders. 

Molybdenum market quotation in China: the ferro molybdenum and molybdenum concentrate prices declined slightly while molybdenum bar price remained stable. The decline is affected by the sharp drop of international molybdenum prices and wait-and-see atmosphere in the domestic market. 

Analysis of latest tungsten market from Chinatungsten Online

The whole tungsten market in China stabilized affected by the holiday of National Day. Tungsten ore prices remained at a relatively high level, smelting factories and intermediate traders followed the trend to raise their product quotations. As expected, terminal demand showed no signs of recovery. 

China rare earth prices maintain stability in the first trading day after the holiday of National Day. In the early stage, most traders were relatively unsatisfactory in their shipments, and they were mainly in purchasing based on rigid demand. On the first day after the holiday, the market participants' mentality is still more cautious and conservative. In the short term, more attention is paid to the price trend of rare earths after the resumption of the market.

The molybdenum oxide, molybdenum concentrate and molybdenum oxide prices keep stable in the Chinese market after the holiday of National Day due to heavy wait-and-see atmosphere of traders. Due to the lack of significant signal release and deadlocked supply and demand in the market, buyers and sellers are cautious, paying attention to the stability of raw materials and new steel tenders. Now they control the inventories in a reasonable level to avoid risk of price inversion. 

As a leader in tungsten and molybdenum, new energy materials, and rare earths industry, Xiamen Tungsten Co., Ltd (XTC) has based on innovation to establish a three-stage stereoscopic R&D organization, perfecting talent cultivation and incentive system, becoming the world's largest industrial chain of tungsten materials, the largest domestic lithium-ion cathode material and the world's most potential enterprise of rare earth deep processing and application.

To help discover and develop reserves of minerals such as tungsten, cobalt, lithium, copper and rare earth that used to make electric vehicles, part of an effort to cut the world’s reliance on China for the high-tech materials. The United States said nine countries have joined the US Strategic Minerals Initiative The countries include Australia, Botswana, Peru, Argentina, Brazil, the Democratic Republic of the Congo, Namibia, the Philippines, and Zambia. The resource reserves in each country are respectively as follows:

Via using tungsten and molybdenum as substitutes for warheads, scientists at the Massachusetts Institute of Technology (MIT) have figured out a way for verifying nuclear warheads. The completion of their work by nuclear weapons inspectors can also encourage nuclear-monitoring countries to undergo inspections, thereby achieving the goal of reducing the number of nukes in the world.

Rare earths, which are known as "industrial gold", have always been an integral part of modern life. Recently, the US President Donald Trump and Canada Prime Minister Justin Trudeau have discussed the need to ensure reliable supplies of critical metals and minerals, a market currently dominated by China.