China molybdenum prices remained stable in the week ended on Thursday June 6, 2019 when buyers and sellers have different opinions on the current situation of the tightness of raw materials and the lack of demand. As factories stopping production to undergo repair, tenders of steel mills and international trade negotiations have not been clearly defined, so most market participants mainly took a watchful stance.

The focus of the world's attention in these two days has been the announcement by President Trump of withdrawal from the Iranian Nuclear Agreement and the reopening of economic sanctions against Iran. Affected by this, international oil prices rose again and reached a new high in recent three years.

The European Spallation Neutron Source (ESS) is a key project of the EU's large-scale infrastructure construction project, with a total investment of 1.8 billion euros in the construction phase and an annual operation and maintenance cost of about 140 million euros. It is funded by 13 EU member states, including France, Germany, Britain, Hungary, Italy, Latvia, Spain and Sweden. Nearly half of the construction costs are borne by Sweden and Denmark.

Analysis of latest tungsten market from Chinatungsten Online

The ferro molybdenum and ammonium metatungstate (APT) prices in China dropped slightly affected by the decline in new guide prices from listed tungsten companies. The industry outlook now remains unclear, which benefits from high costs of tungsten ores and the control in spot supply but is dragged by weak demand and trade tensions with the United States.

Rare earth market quotation in China: domestic rare earth prices still show the upward trend after the ban in importing Myanmar mines. Leaders inspected rare earth enterprises and the National Development and Reform Commission responded to the problems related to the rare earth industry, so the market confidence continued to stand firm, and the industry’s views on market expectations and the value of rare earths were optimistic, but the essence volume of trading still needs to be further followed up.

Molybdenum prices in China continued to remain stable with the approaching of Dragon Boat Festival holiday. The tightening availability of raw materials still supports the molybdenum concentrate market; ferro molybdenum market minds the risks of price inversion considering quiet steel tenders; molybdenum chemical and product market is in a stalemate, waiting for next moves in cost side and trading volumes. 

U.S. President Trump officially announced that the United States unilaterally withdraws from the Iranian nuclear agreement at 2 p.m. local time on the 8th. It is also prepared to restore all the sanctions against Iran that were abandoned in order to implement the agreement and impose additional economic penalties. In short, the Middle East gunpowder barrel has been ignited by Trump. It is inevitable that Iran, Israel and Saudi Arabia will start a new round of armaments. As an important military material, tungsten demand may be pushed up.

Analysis of latest tungsten market from Chinatungsten Online

Opening this week, China tungsten prices were unchanged from last week on stable supply of tungsten ores and decreased production capacity in mainstream tungsten enterprises. Affected by continued weakness in the demand side, downstream buyers were cautious to replenishment and trying to force prices down. Some enterprises even completed under pressure of capital shortage. 

Rare earth market quotation in China: the latest prices of terbium oxide, praseodymium oxide and praseodymium neodymium oxide edge higher compared with last trading day. On the one hand, banned imports of Myanmar mines continue to support prices of heavy rare earth products; on the other hand, China raised the control in rare earth resources after the international trade consultations. Rare earth prices rose sharply in May and now, more and more insiders return to rationality. In the short term, the market tends to stabilize. 

China molybdenum prices continue to maintain stability in the week began on Monday June 3. Molybdenum concentrate price is in a relatively high level supported by tightening availability of raw materials raising sellers’ strong rised mentality; ferro molybdenum price stabilizes affected by quiet steel tenders and unstable trade environment. Most insiders hold different views toward the outlook. The demand side is still under pressure and market remains low trading activity.