Analysis of latest tungsten market from ChinaTungsten Online

Chinese tungsten prices continue to be stable in the week under muted demand in the off season. Customers are reluctant to get back to the market and try to force offers down with tungsten raw material supply resumed. “There is excess of material in the market and insiders raise risk aversion,” a trader said. 

Rare earth market quotation in China: rare earth prices are unchanged from the previous trading day as the supply side is under pressure. On the one hand, market supply is still limited under environmental checks and enterprises have ample stocks built in previous stage; on the other hand, market participants are reluctant to come back to market and trading volumes are limited. In addition, the policy side remains quiet. On the whole, rare earth prices are weak at present. 

Chinese molybdenum prices continued to edge higher from last trading day, in which molybdenum powder price declined to RMB 230.00/kg from RMB 235.00/kg, and molybdenum oxide rose to RMB 1,950.00/kg from RMB 1,930.00/kg. 

Plymouth’s huge Drakelands tungsten mine has secured its short-term future with a £2 million loan – but will be conducting a major financial review into its finances as it is now more than £60million in debt.

Analysis of latest tungsten market from ChinaTungsten Online

The latest price of ammonium paratungstate, tungsten powder and cesium tungsten bronze is unchanged from the previous trading day, although Chinese tungsten prices are in a downward trend. The weakness in market demand now affects price moves greatly. Deadlocked supply and demand will continue on poor circulation of spot goods.

Chinese rare earth prices show signs of decline as the market still faces great pressure from imbalanced supply and demand. Dysprosium oxide price declined to RMB 1,155/ton from RMB 1,160/ton previous, while praseodymium neodymium metal declined to RMB 420,000/ton from RMB 423,000/ton.

The molybdenum market in China appeared to be warming up in sympathy, with prices continuing to push higher. Ferromolybdenum rose to RMB 134,000/ ton from RMB 132,000/ton previously, molybdenum concentrate rose to RMB 1,790/ ton from RMB 1,750/ton, while molybdenum oxide rose to RMB 1,930/ ton from RMB 1,900/ton. 

Tungsten is a natural rare material. It is commonly found in wolframite and scheelite. Tungsten is famous for its unique properties, such as high density, high melting point and excellent mixing ability. Tungsten is also one of the highest melting point metals found on the earth. Many tungsten alloys are used in various fields, such as bulb filaments, electrodes, X-ray tubes, radiation shielding, microelectronic integrated circuits, superalloys, aerospace, etc. Tungsten is also used for military purposes because of its hard physical form and high density, such as armor piercing shells and insulation shielding. In addition, tungsten products can also be used as catalysts in many industrial processes.

Analysis of latest tungsten market from ChinaTungsten Online

Opening this week, Chinese tungsten price continues its weak adjustment on heavy wait-and-see atmosphere at the end of July. The operating rate of downstream factories remains low in the off season while market demand is weak. So sales in the raw material market become difficulty and trading volumes are thin again.

The latest price of praseodymium neodymium oxide and praseodymium neodymium metal climbs slightly while dysprosium oxide price maintains stability from last trading day. Market participants in Chinese market now are uncertain about the outlook with quiet policy side. Under environmental checks and off season, deadlocked supply and demand will not be eased, and rare earth prices may continue to decline.