Molybdenum market quotation in China: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices are in the downward trend in the middle of May 2022. 

Analysis of latest tungsten market from Chinatungsten Online

At the beginning the of week, China’s domestic tungsten price continues to remain stable because market demand and supply are in a stalemate, environmental protection and logistic constrained limit the supply of spot resources, and COVID19 and Russia-Ukraine conflict affect the upstream supply chain. 

According to the Guardian, trillions of potato-sized nodules of rare ears have been discovered on the Pacific seabed, and mining companies are planning a deep-sea gold rush for rare metals, including rare earths and Mg. Mining companies hope to set global rules to open up industrial-scale deep-sea mining as early as July 2023.

Canada Rare Earth Corporation (CRE) has reached an agreement in principle to acquire a rare earth refinery. Peter Shearing, the company's chief operating officer, said, "The refinery is based on technology already deployed by other rare earth processors and can produce approximately 3,000 metric tons of complete rare earth oxides."

Taseko Mines (TKO) said its first-quarter 2022 copper (Cu) and molybdenum (Mo) production was down year-on-year, mainly driven by lower ore grades and recoveries from mining in the upper levels of the Gibraltar pit, according to Kitco News.

Molybdenum disulfide (MoS₂) holds great promise in hybrid Mg-Li battery due to its fast two-dimensional ion diffusion channels. A new work published in ACS Applied Energy Materials focuses on the development of highly distributed MoS₂ nanoflowers as cathode materials for magnesium-lithium batteries to increase capacity and lifetime.

Analysis of latest tungsten market from Chinatungsten Online

The ammonium metatungstate (APT) and tungsten powder prices remained weak adjustment in the first trading day after the holiday of May Day because there are many uncertainties and risks in the market caused by epidemics, local conflicts and severe weather events. 

At the beginning of the week, China’s overall domestic rare earth market showed a stable and strong pattern, mainly reflected in the slight increase in market activity, the slight increase in the prices of praseodymium, neodymium, dysprosium and terbium products, and the industry's high expectations for the market outlook. This is mainly due to the difficulty in increasing the supply of rare earth raw materials and the increase in inquiries from downstream users.

Molybdenum market quotation in China: ferro molybdenum, ammonium molybdate and ammonium heptamolvbdate prices decline slightly at the beginning of the week with rare deals concluded in the market. 

Discovered in 1916 during the Japanese colonial era, the Sangdong tungsten mine in South Korea was once the backbone of the country's economy, accounting for 70 percent of the country's export earnings in the 1960s when it was used primarily for metal cutting tools. The mine was closed in 1994 due to cheaper supplies of the mineral from China, and nowadays, demand and prices for the key mineral will continue to rise, driven by the digital and green revolution and the growing desire of countries to diversify their sources of supply.