At the beginning of the week, China rare earth price generally fluctuated within a reasonable range, mainly due to the difficulty in increasing the supply of raw materials, the sharp drop in the price of rare earth raw materials in the early stage, and the gradual stabilization of the epidemic situation in Shanghai and other places. However, the overall market demand is still not good, so some rare earth suppliers face a greater risk of inversion.

At the beginning of the week, China’s ferro molybdenum, ammonium molybdate and molybdenum powder prices remain unchanged as the negotiation consistency between buyers and sellers is not very high under the influence of many uncertain factors.

PART IV  OUTSTANDING PROBLEMS & SOLUTIONS OF CHINA TUNGSTEN 

4.1 Outstanding Problems Faced

4.1.1 Consumption Rate of Tungsten in China is Higher than the Global Average

PART III  ANALYSIS ON THE SITUATION OF CHINA TUGNSTEN INDUSTRY 2021

3.1 Industrial Policies Ensure the Stable Running of the Industry

The Chinese government continues to implement the management principle of total amount control of tungsten mining yearly. In 2021, the total amount control index of tungsten concentrate mining was 108,000 tons, an increase of 2.86% over the previous year. 

PART II  DEVELOPMENT STATUS OF CHINA TUNGSTEN INDUSTRY IN 2021

2.1 Overview of Economic of China

2.1.1 Tungsten Production Capacity Increased Steadily

2021 is a year of great significance in China's developing history and the beginning of China's 14th Five-year Plan. In the face of the complex environment of century changes and century epidemic, China's cadres and workers in the tungsten industry stick to their original intention, forge ahead, continue to consolidate the stable and good development trend, firmly continue the good trend of steady growth, firmly grasp the established direction of high-quality development, and restore the growth of product output, profits and taxes, Operating income reached a record high, key projects were promoted in an orderly manner, the industrial structure was continuously optimized, new achievements were made in scientific and technological innovation, brand building was fruitful, and new progress was made in greening and intellectualization.

Advance Notice on Convening

CHINA TUNGSTEN EQUIPMENT INDUSTRY FORUM (CTEIF)

China Tungsten Industry Association (CTIA)

Neo Performance Materials Inc. is a near fully integrated Canadian company that processes mixed rare earths concentrates to produce separated individual rare earth elements (REEs) and specialized mixed REEs to produce rare earth metals, alloys, and magnets.

MP Materials (NYSE: MP) announced record quarterly revenues, net income, and adjusted EBITDA due to higher rare earth prices, production, and sales volumes in Q1 of 2022. The company stated that rare earth production in the first quarter of 2022 (10,828 tons) was 10% higher than in Q1 of 2021 (9,849 tons) due to increased production efficiencies resulting from improved ore feed rates and recoveries, as well as slightly longer plant uptime.

Peru's Ministry of Energy and Mines (Minem) said that year-on-year copper, tin, and molybdenum production rose in the first quarter of 2021. However, cumulative production of gold, zinc, silver, lead, and iron declined year-on-year.