Analysis of latest tungsten market from Chinatungsten Online

A steep downturn in consumer spot demand and geopolitical turmoil dragged European tungsten prices to a near three-year low, with the premium to the Chinese market narrowing, despite the yuan's depreciation this month.

Rare earth market quotation in China: the latest prices of terbium oxide, praseodymium neodymium oxide and neodymium oxide declined slightly on weak market confidence and cautious sentiment of traders. 

Molybdenum market quotation in China: the molybdenum concentrate, molybdenum powder and molybdenum prices are unchanged from last week on heavy wait-and-see atmosphere. 

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten prices maintained stability as Fanya stock concerns continued to weigh on the market. Smelting factories remained low operating rate affected by environmental protection inspection and supported by output cuts of factories to stabilize prices. Now the whole market is still quiet in trading.

China rare earth prices showed a low-level fluctuation in the overall pattern with increased market inquiry but limited trading volumes. Recently, under the strong rectification of inspectors, high temperature and heavy rainfall weather and the “parade of blues”, the total output of most mining enterprises has declined, and the awareness of reluctance to sell has increased. 

China molybdenum prices remained weak adjustment in the week ended on Friday August 23, 2019 due to persistent stalemate in the industry chain and different sentiments of traders. The space for price decline of purchasers and a rise in selling prices was limited. 

According to the report, U.S. electric vehicle maker Tesla Inc is in advanced talks with South Korea’s LG Chem Ltd to source batteries for vehicles to be made in its Shanghai plant. As a result, it will help accelerate the layout of the high-end lithium batteries industry.

Reuters reported that after the Sino-US trade war has heated up rapidly, MP Materials, the only rare earth mining company in the United States, said it will double its staffing as one of the strategies to build refining strength. This is part of the American strategy to strengthen refining capacity after the Chinese tariff escalation process has been raised.

The discoverer of tungsten and molybdenum elements, Carl Wilhelm Scheele, was born on December 19, 1742, in Stralsund, Sweden and passed away on May 21, 1786. He is an unknown hero in the history of elements discovery.

Due to rare earths crisis, the natural sources of the six metal elements in mobile phones will be exhausted in the next 100 years, according to the reports of British media. Royal Society of Chemistry research in the UK suggests that there are 40 million unused devices gathering dust alone. Each of these devices contains increasingly rare elements that must be mined from finite natural sources.