Greenland Minerals Ltd said it will oppose the Greenland government's draft decision not to grant it a rare earth license for the Kvanefjeld rare earth project on the grounds that a piece of legislation prohibits uranium exploration.

Analysis of latest tungsten market from Chinatungsten Online

The domestic tungsten price was relatively strong at the beginning of the month, mainly due to the support of the upstream market in the industrial chain, and the industry's expectations of industrial consumption under the background of domestic economic recovery have warmed up. However, during the overseas summer break, the actual consumption of downstream terminals has not yet rebounded significantly, and the purchasing sentiment is still cautious.

Rare earth market quotation in China: neodymium oxide, lanthanum oxide and dysprosium oxide prices are still in the downward trend when traders are hesitant to enter the market, the actual trading volume is low, and the market is bearish in the short term. 

Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices drop on August 3, 2022 mainly due to the decrease in both the quantity and price of steel, the poor performance of the international molybdenum market, the large stock of molybdenum raw materials in stock and the slow growth rate of the global economy. 

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price edged higher with the support of costs of raw materials as well as the rised mentality of sellers. The enthusiasm of smelters and intermediate traders for bottoming and rebounding has increased, and resources at low levels in the market have decreased. Mainstream tungsten product offers have been raised.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the upward trend overall in July 2022 mainly due to the significant cost pressure in the market under the background of high inflation. 

China’s lanthanum oxide price keeps stable while dysprosium oxide and praseodymium neodymium oxide prices increase slightly on August 1, 2022, mainly due to the lower-than-expected demand from downstream users and the slow growth rate of the global economy, which led to a slight lack of confidence in the short-term market. 

China molybdenum market was still weak at the beginning of the week. Under the influence of factors such as the import window of molybdenum raw materials has not been closed, most steel companies have cut production and stopped production due to falling into inversion and loss, and the Federal Reserve has raised interest rates to curb the rise in commodity prices, the quotations of molybdenum chemical companies have been basically lowered slightly.

Analysis of latest tungsten market from Chinatungsten Online

The tungsten powder and ammonium paratungstate (APT) prices are unchanged from the previous trading day due in part to the cautious sentient of market participants. 

Analysis of latest tungsten market from Chinatungsten Online

China ‘s ferro tungsten and tungsten carbide powder prices maintain stability on July 27, 2022 when the whole market is still in a stalemate. On the one hand, insiders have good consumer expectations for the recovery cycle of the domestic epidemic situation; on the other hand, there are concerns about manufacturing demand under the global high inflation and tight monetary measures.