Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten prices maintained stability as Fanya stock concerns continued to weigh on the market. Smelting factories remained low operating rate affected by environmental protection inspection and supported by output cuts of factories to stabilize prices. Now the whole market is still quiet in trading.

China rare earth prices showed a low-level fluctuation in the overall pattern with increased market inquiry but limited trading volumes. Recently, under the strong rectification of inspectors, high temperature and heavy rainfall weather and the “parade of blues”, the total output of most mining enterprises has declined, and the awareness of reluctance to sell has increased. 

China molybdenum prices remained weak adjustment in the week ended on Friday August 23, 2019 due to persistent stalemate in the industry chain and different sentiments of traders. The space for price decline of purchasers and a rise in selling prices was limited. 

According to the report, U.S. electric vehicle maker Tesla Inc is in advanced talks with South Korea’s LG Chem Ltd to source batteries for vehicles to be made in its Shanghai plant. As a result, it will help accelerate the layout of the high-end lithium batteries industry.

Reuters reported that after the Sino-US trade war has heated up rapidly, MP Materials, the only rare earth mining company in the United States, said it will double its staffing as one of the strategies to build refining strength. This is part of the American strategy to strengthen refining capacity after the Chinese tariff escalation process has been raised.

The discoverer of tungsten and molybdenum elements, Carl Wilhelm Scheele, was born on December 19, 1742, in Stralsund, Sweden and passed away on May 21, 1786. He is an unknown hero in the history of elements discovery.

Due to rare earths crisis, the natural sources of the six metal elements in mobile phones will be exhausted in the next 100 years, according to the reports of British media. Royal Society of Chemistry research in the UK suggests that there are 40 million unused devices gathering dust alone. Each of these devices contains increasingly rare elements that must be mined from finite natural sources.

Analysis of latest tungsten market from Chinatungsten Online

The tungsten powder and tungsten carbide powder prices continue to maintain stability in the Chinese tungsten market. The new offers for the second half of August from large tungsten companies stabilized, giving the market a stable signal. The market now still features difficult sales in high-prices and purchasing in low-price materials. 

Rare earth prices in China are slowly rising, especially the prices of praseodymium neodymium oxide products. the market now is caught in wait-and-see atmosphere and insiders become optimistic about the outlook. 

The sodium molybdate, ammonium molybdate and molybdenum oxide prices in the Chinese molybdenum market continue to keep stable. In the molybdenum concentrate market, although the recent demand of buyers has declined slightly, due to the difficulty of mining, the release of production capacity is relatively limited, manufacturers have not felt the pressure of inventory and prices keep firm.