Analysis of latest tungsten market from Chinatungsten Online

The price trend of tungsten products in the Chinese market shows signs of difference in the first trading day of June 2022. On the one hand, the cost side under the inflation continues to be firm, the demand gradually recovers after the effective control of the epidemic, and the package of measures to stabilize the economy in the second half of the year will boost consumption. Therefore, tungsten raw material suppliers have strong rised mentality. 

Following its successful listing on the Australian Stock Exchange, Australian miner Pacific Bauxite (PBX) has provided its first update of copper-molybdenum mineralization. The company has commenced an exploration program focused on its assets in Western Australia, starting with the Melbourne project, which is located in the Wheatbelt region of Western Australia, just north of Perth.

Recent high-resolution ground magnetic surveys at Culpeo Minerals (ASX: CPO)'s Lana Corina Copper Project in Chile have identified approximately 13 new and untested geophysical targets. These targets are similar to known copper occurrences at the project, with recent drilling intersecting 257m at 0.95% copper and 81 parts per million molybdenum.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the downward trend in May, and the average tungsten forecast prices from Ganzou Tungsten Association and long-term contract prices from state-owned tungsten companies also declined, owing to the impact of the epidemic in Shanghai, Jilin and other places on the domestic economy. 

Rare earth market quotation in China: europium oxide and cerium oxide prices continue to stabilize while praseodymium neodymium metal price increases slightly in the first trading day in June 2022. 

Molybdenum market quotation in China: ammonium molybdate, ammonium heptamolvbdate and molybdenum powder prices remained unchanged in the first trading day in June 2022. 

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price continues to remain stable as the whole market is still in a stalemate. With the effective control in COVID-19 as well as the release in personnel restrictions and logistics control in China, insiders believes that manufacturing industries such as automobiles and equipment are expected to be recovered in June, which is good for the release of demand. 

Group 6 Metals and the University of Tasmania will collaborate on research and development activities related to the production of critical minerals, including tungsten (W). The project is expected to benefit its W assets on King Island in the state.

In early May 2022, Chief Thomas Tilden of the Curyung Tribal Council, a representative of the Confederated Tribes of Bristol Bay, spoke at a press conference in Washington, D.C., about the Pebble deposit, a vast deposit of minerals such as copper, gold, and molybdenum, located in headwaters of the Bay.

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price remained stable on the whole in the week ended on Friday, May 27, 2022 as the market was in a stalemate under the complex situations both at home and abroad.