Affected by the poor performance in steel biddings, molybdenum price in China tends to decline and market trading is thin. Molybdenum concentrate market faces little pressure of stocks, but downstream demand is not improved, thus molybdenum concentrate price would mainly stabilize. 

Tungsten oxide has wide range of applications in photo- and electrochromic devices, photosensitive materials and biomedicine and it has a strong antibacterial effect based on high photocatalytic activity, which may be further increased by UV irradiation and the use of smaller tungsten particles. Therefore, tungsten oxide is currently used as a visible spectrum photocatalyst for wastewater purification. Moreover, tungsten oxide nanoparticles fight against infection and cancer.

Analysis of latest tungsten market from Chinatungsten Online: Due to the recovery of mines production in the second quarter, demand growth is lower than capacity release. Most businesses are negative about the outlook and are not active in trading, so domestic tungsten price is continuing its weak trend.

Rare earth market quotation in China: the latest price of PR ND oxide, praseodymium oxide and lanthanum oxide is unchanged from the previous trading day on sluggish market demand. The unchanged listing prices of molybdenum oxide of Southern Rare Earth Group reflects the attitudes of large enterprises towards market outlook and the deadlocked supply and demand still is hard to be changed.

In the molybdenum concentrate market, the availability of spot goods is tight, so businesses face little pressure of sales and mainly wait for proper price. Steel biddings will soon restart in the ferro molybdenum market, but the quantity of biddings at a relatively low level weakens market confidence, some traders even reduce profits for more transactions.

Analysis of latest tungsten market from Chinatungsten Online: Domestic tungsten price has shown a weak trend recently in whole. On the one hand, the continuous weak demand cools purchasers’ enthusiasm in enquiry; on the other hand, downstream factories force prices down due to increasing supply of raw materials. In the short term, high-price transactions are hard to be concluded.

Rare earth market quotation in China: domestic rare earth price is under pressure. D0wnstream factories stay cautious about purchasing and under the sufficient supply of raw materials, market participants plan to purchase at a relatively low price. 

China’s molybdenum price is now weak in whole, with slight increasing trading volumes. Affected by stopping production to undergo repair of mines, sellers raise mentality of keeping firm offer. Some manufacturers who have low stocks start to replenishing, so trading volumes increase.

In November 3rd, Australian media reported that the Moore Jinshan tungsten mine project in Western Australia was officially approved in 2018 through environmental approvals. By then, Xiamen tungsten industry Limited by Share Ltd (XTC) will be purchased from the project of tungsten and molybdenum concentrate.

Analysis of latest tungsten market from Chinatungsten Online: Market participants in the tungsten market are basically pessimistic about the outlook at present. Considering the weak price, purchasers slow down their pace in purchasing, which limits the release of demand to some extent. Sellers have high willing in shipments while purchasers have little need in stocking up. The imbalance means thin trading. In the short term, tungsten price will be weak.