Chinese molybdenum prices remain stable on Wednesday April 9 due to heavy wait-and-see atmosphere in the market. For molybdenum raw material side, manufacturers have good sentiment because of limited production of mines and thus they tend to remain high offer levels. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continued to be weak in the first trading day after the holiday of Qingming Festival as tungsten institutions and large companies declined their guide prices for the first half of April, weakening market confidence.

Rare earth market quotation in China: domestic rare earth prices are unchanged from the previous trading day on Monday April 9. Product prices in the market still show different trends, but after a slight adjustment in March, they tend to stabilize. At present, environmental protection inspection, industry rectification, historical inventory, downstream factory demand, and banned import of Myanmar mines are the main factors affecting product prices. 

Molybdenum market quotation in China: the latest prices of molybdenum powder, molybdenum bar and molybdenum concentrate are unchanged from the previous trading day. Sellers have good sentiment due to the limited production in mines and active trading and they incline to sell their products at high prices. Smelting factories mainly take a watchful stance for the relationship between the cost and demand sides. In the short term, prices of molybdenum products are expected to maintain stability with the settlement of VAT reform and strong rised mentality of raw material sellers.

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.