Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten bar prices in the Chinese market are unchanged from the previous trading day on March 2, 2022 as the market is in a stalemate. 

Norwest Minerals' soil sample analysis at the Arunta West project yielded a strong rare earth element (REE) anomaly. The anomaly is associated with copper-gold and base metals and shows the overlap of cerium (Ce), lanthanum (La), and yttrium (Y) over a 3 km range.

AuKing Mining Limited (AKN) has received further high-grade assay results from the final three holes of the drilling program at the Onedin deposit at the Koongie Park Project late last year - AORD005, AORD006, and AORD007. The latest assay results confirm high grade copper, zinc, silver, molybdenum, and other mineralization in the known mineralized zones at Onedin.

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium metatungstate (APT) and tungsten powder prices maintain stability in the first trading day of March due in part to the gradual release of raw materials despite of continued weakness in the demand side. 

Rare earth market quotation in China: terbium oxide, cerium oxide and dysprosium oxide prices decline slightly as favorable factors are difficult to offset buyers’ fear of high prices. In order to obtain more order, some suppliers have rationally lowered their quotation. 

China molybdenum market remains stable and strong on March 2, 2022. Affected by factors such as the difficulty in increasing the spot supply of molybdenum raw materials, the increase in downstream inquiries, the rebound in international molybdenum prices, and the surge in commodity prices, manufacturers generally have strong rised mentality, so market price is not likely to decline in the short term.

As the world's second largest tungsten reserve owner, Russia definitely plays an important role in the tungsten supply market. 

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China’s domestic tungsten price remains unchanged from previous week when the whole market is caught in heavy wait-and-see atmosphere. The epidemic and geopolitical conflicts are intensifying the uncertainty and risks in the market, including financial markets, energy prices, commodity trends, and logistics capacity, etc.

The COP26 meeting on climate change in Glasgow discussed accelerated actions and strategies to achieve the goals outlined in the Paris Agreement, with India committing to increase its non-fossil fuel energy capacity to 500 GW by 2030, reduce the economy's carbon intensity to less than 45% of 2005 levels by 2030, and achieve the goal of net-zero emissions by 2070. The country must therefore take action to mine and explore critical minerals such as rare earths, lithium, molybdenum, etc. for green technologies.

Australian Tungsten Mining has signed a Memorandum of Understanding (MOU) with MCCI to develop a collaborative plan for the feasibility study of its Mt Mulgine tungsten project.