Analysis of latest tungsten market from ChinaTungsten Online

China tungsten prices continued to remain weak adjustment on the first trading day of November owing to deadlocked weak demand and tight supply, and low trading in the market. Traders now highly focus on new tungsten guide prices from Ganzhou Tungsten Association and large enterprises. 

Chinese rare earth prices declined slightly in the week to Friday November 2. Praseodymium oxide price dropped from RMB405,000.00 per ton to RMB402,000.00 per ton; terbium oxide price remained unchanged at RMB 2,920.00 per kilogram while praseodymium neodymium oxide rose slightly to RMB317,000.00 per ton from RMB316,000.00 per ton. Under the deadlocked supply and demand, and stricter environmental protection, the market would be caught in wait-and-see atmosphere.

Prices of ammonium molybdate, ferromolybdenum and molybdenum bar rose slightly in the week to Friday November. Market sentiment tends to rationality, waiting for the next move in environmental protection and demand. 

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Analysis of latest tungsten market from ChinaTungsten Online

Under the deadlocked funds and costs, supply and demand, downstream enterprises’ enthusiasm for buying raw materials is not high. Sellers, affected by Chinese environmental inspection, narrow the range of price changes and wait for new tungsten guide prices. 

Rare earth market quotation in China: domestic rare earth price keeps steady at the beginning of November when the market tends to be down. As downstream factories are cautious on purchasing, the whole market trading is thin; some of them even cut product profits, so market prices decline slightly. Listing prices of Southern Rare Earth drop, but with the support of costs of environmental protection, rare earth price would remain weak adjustment. 

The latest prices of sodium molybdate, ammonium tetramolybdate, ammonium heptamolybdate and molybdenum bar are unchanged from the previous trading day in Chinese market.

Apollo Minerals Limited (ASX:AON) that is looking to capitalise on a resurgent tungsten price set out to restart the world’s highest grade tungsten mine.

Analysis of latest tungsten market from ChinaTungsten Online

Prices in Chinese tungsten market continue to maintain stability at the end of October. Affected by China environmental checks, the operating rate in the whole industry chain is at a relatively low level and both supply and demand is weak. The difficulty in sales of smelting factories presses product offers down. Market trading now is thin and most insiders wait and see the new tungsten forecast prices from institutions and large tungsten enterprises. 

The latest prices of neodymium oxide, praseodymium neodymium oxide and praseodymium neodymium metal decline slightly on Wednesday. Pressed by funds and demand, traders are will to sell products, which make insiders uncertain for market expectations. Purchasers now have strong wait-and-see mood. In the short term, rare earth price will be adjusted limitedly on the tightening availability of raw materials.