The Sangdong tungsten mine, 180 kilometers southeast of Seoul, could be the catalyst for South Korea to break China's dominance of key minerals and lay claim to future raw materials, according to Reuters.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was weak in early May with the impact of the decline in new guide prices for this month. 

China’s domestic rare earth market has improved slightly in the first trading day after the holiday of May Day, which is mainly reflected in the slightly higher sentiment of traders entering the market, the slight increase in the prices of mainstream products, and the confidence of most industry players in the stable operation of the market outlook. 

China molybdenum price was in a dilemma in the first trading week after the holiday of May Day as traders remained low enthusiasm under both weak demand and supply.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained stable in the first trading day after the holiday of May Day as the whole market kept quiet without news updated. 

American Resources Corporation announced its membership in the global Rare Earth Industry Association (REIA), an international nonprofit organization representing the global rare earth elements (REE) industry. The company says REIA provides a platform for stakeholders to network, conduct research, and develop strategies and supply chain standards.

Recent exploration results from American Rare Earths (ARE) indicate that the reserves in Arizona and Wyoming may be the two largest rare earths mines in the United States, making ARE's holdings the largest in North America. According to SEC filings, the current U.S. leader in rare earth production is MP Materials, which owns the only operating rare earth mine in Mountain Pass, California, responsible for producing 15% of the mineral content consumed on the global market, according to SEC filings.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the upward trend in the first half of April but turned to decline in the second half of this month. The average tungsten forecast prices from tungsten association and long-term contract prices from listed tungsten companies followed the trend. 

Rare earth market quotation in China: cerium oxide, europium oxide and lanthanum oxide prices maintain stability on the whole after the holiday of May Day. 

Molybdenum market quotation in China: ferro molybdenum, molybdenum oxide and ammonium heptamolvbdate prices remain stable on May 5, 2022. On the first day after the May Day holiday, many molybdenum mining companies have not fully resumed normal production and most steel companies have delayed bidding time, resulting in a low market heat.