Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price remained weak adjustment in the week ended on Friday, March 04, 2022 amid low domestic and overseas markets after Western sanctions on Russia. 

At the beginning of the week, China’s domestic rare earth prices were generally adjusted within a reasonable range. The prices of praseodymium neodymium oxide, praseodymium neodymium metal and terbium oxide were consolidated at around RMB 1,110,000/ton, RMB 1,390,000/ton and RMB 15,200/kg, respectively.

Molybdenum market quotation in China: ferro molybdenum and molybdenum concentrate prices increase slightly while molybdenum powder, bar and oxide prices edge lower at the beginning of the week. 

A collaborative research group at the Institute of Solid State Physics, Hefei Institutes of Physical Science (HFIPS), Chinese Academy of Sciences (CAS), and Xi’an Jiaotong University has recently developed bulk pure tungsten with high strength and ductility at low temperatures.

Chris Gibbs, CEO and Managing Director of American Rare Earths, said, "As we continue to work with leading scientific institutions engaged in U.S. government-supported domestic rare earth recovery research and development programs, we applaud the latest initiative announced by the Biden Administration to enhance the security of the domestic rare earth supply chain."

Greenland Resources Inc has taken a different approach to mine transportation at its Malmbjerg moly project in Greenland, proposing in a feasibility study the use of a Doppelmayr RopeCon ® aerial conveyor to transport the ore to the processing plant.

Arafura Resources has a shovel-ready rare earth deposit in Australia's Northern Territory that is said to meet more than 5% of the global demand for heavy rare earths. The company, which has full approval for its Nolans rare earth project with huge reserves of 29.5 million tons at 2.9% total rare earth oxides and good infrastructure nearby, as well as a supply agreement with South Korea.

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten market maintains stability on the whole when the recent international geopolitical tension has brought a certain impact to the tungsten industry. In addition to the inflation risk caused by the turmoil of bulk commodities in the short term, the impact on the trade of tungsten products is mainly reflected in the pressure of payment and transportation with Russia and Ukraine.

This week, China rare earth price was mixed as a whole. Affected by favorable and negative factors, the mentality of buyers and sellers was slightly different, that is, sellers were reluctant to sell and had high bullish sentiments, while buyers were more afraid of high pries and deals were limited. 

This week, China’s domestic molybdenum market has maintained a stable operation as a whole. Affected by factors such as the difficulty in increasing the supply of raw materials, the successive bidding of steel companies, inflation, the unstable situation in Russia and Ukraine, and the obstruction of international logistics and transportation, the market was in a stalemate.