China molybdenum price was in the downward trend in the week ended on Friday, May 27, 2022. Under the gradual increase of negative factors, traders' sentiments on entering the market are relatively complicated, mainly reflected in the confusion of suppliers' quotations, the low enthusiasm of buyers to receive goods, and the lack of confidence in the market outlook.

Analysis of latest tungsten market from Chinatungsten Online

China’s ferro tungsten and tungsten carbide powder prices maintain stability on May 25, 2022 when raw material suppliers tend to stabilize their offers and downstream traders keep cautious sentiment. 

Materials made from rare earth elements (REEs) may hold the key to addressing pollution caused by acid gas nitrogen dioxide (NO₂) and sulfur dioxide (SO₂). Researchers at Oak Ridge National Laboratory, Sandia National Laboratory, and the University of Tennessee, Knoxville, use REEs based metal-organic frameworks (MOFs) to efficiently detect and trap acidic gases.

After setting out in search of lithium and gold, Kula Gold has conducted a second round of drilling on its Rankin Dome project in Western Australia's Southern Cross region, discovering a rare earth element cluster. The project found some impressive results across the property, with 70% of the 375 samples exceeding 115 ppm total rare earth elements, with two samples peaking at 1080 ppm.

Analysis of latest tungsten market from Chinatungsten Online

The ammonium paratungstate (APT) and tungsten powder prices in the Chinese market continue to stabilize with the effective control in domestic epidemic and the continuous recovery of demand in the manufacturing industries such as automobiles and equipment.

Rare earth market quotation in China: praseodymium oxide, cerium oxide and europium oxide prices are unchanged from the previous trading day. Under the influence of many uncertain factors, the mentality of light and heavy rare earth traders is obviously different, which is mainly reflected in the slight increase in the price of mainstream light rare earth products, while the price of heavy rare earth products is weak.

China molybdenum price was in the downward trend on May 25, 2022, including ferro molybdenum, sodium molybdate, ammonium heptamolvbdate and molybdenum powder. Market trading is limited and insides lack of confidence to the market outlook.

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, the long-term contract prices of large tungsten companies for the second half of this month were lowered as expected. Although it did not cause severe panic, it affected the reference level of spot trading and negotiation to a certain extent. Most prices of tungsten products are under pressure. 

Power Nickel Inc is focused on mining high potential molybdenum, copper, gold, and battery metals in Canada and Chile. Power Nickel added $833,568.7 in capital to the Company as a result of the exercise of warrants and the Company ramped up exploration efforts on the NISK nickel project with an additional 5,000 meters of drilling.

Rockfire Resources plc, an exploration company focused on gold and other base metals, announced the maiden JORC resource estimate for its 100% owned Molaoi Zinc Deposit in Greece, which exceeded all expectations including zinc, silver, copper, and molybdenum resources, demonstrating the quality and potential of the project.