Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten powder prices in China start to show signs of rise in the week began on Monday November 23, 2020 thanks to the rise in new average tungsten forecast prices for the second half of this month. The cost side supports firm offers of smelting factories, but the demand side remains cautious. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price lost momentum in the week ended on Friday November 20, 2020 after continued gains over the past two months, as concentrate sellers cut prices to reduce inventories and lock in profits.

Rare earth market quotation in China: terbium oxide, neodymium oxide and praseodymium neodymium metal prices are in the upward trend in the week began on Monday November 23, 2020 due to increased trading activity. 

Molybdenum market quotation in China: the molybdenum oxide, ferro molybdenum and molybdenum powder prices continue to remain stable early in this week under many uncertain factors at home and abroad. 

Tanzania is in the final stages of approving a right for the country’s first rare earths mine to Australian company Peak Resources Ltd - a mineral exploration company, which is focused on gold, base metal, and uranium prospects within Western Australia, as the government seeks a bigger share of the revenue from natural resources.

Luoyang’s unmanned molybdenum mine project was awarded second prize lately. The 3rd “Blooming Cup” 5G Application Pitch Competition was held recently. The "Luoyang Luanchuan Molybdenum Group Co., Ltd. Intelligent Unmanned Mine" project selected by China Molybdenum Group won the prize.

The report of “Critical metals for future sustainable technologies and their recycling potential” for the United Nations Environment Programme (UNEP) aims at sustainable development of technologies to use indium, germanium, tantalum, platinum group metals (especially ruthenium, platinum, palladium), tellurium, cobalt, lithium, gallium, rare earths (including 16 elements) and other "high-tech metals" are classified as "green rare metals".

Rare earth, cobalt, and lithium are included in China's Strategic Minerals Catalog. There are 24 types of strategic minerals listed in the "National Mineral Resources Planning (2016-2020)" of the former Ministry of Land and Resources. Energy minerals are petroleum, natural gas, shale gas, coal, coalbed methane, uranium; metal minerals Iron, chromium, copper, aluminum, gold, nickel, tungsten, tin, molybdenum, antimony, cobalt, lithium, rare earth, zirconium; non-metallic minerals phosphorus, potassium salt, crystalline graphite, fluorite.

Japan has designated 34 "rare metals" - including rare earths - as having the potential for stockpiling and currently holds reserves of seven - nickel, chrome, tungsten, cobalt, molybdenum, manganese and vanadium. The stocks can cover 60 days of the country's consumption, after including non-obligatory privately-held stocks equivalent to 18 days of consumption. The strategic reserves are defined as being the property of state-owned agency Jogmec and are managed by the agency in its storage bases.

The US Department of Energy reports 35 critical minerals to include 8 rare earth elements (lanthanum, cerium, praseodymium, neodymium, samarium, europium, terbium and dysprosium), and the elements such as tungsten, lithium, and cobalt, etc.