According to CCTV news reports, since July 12, Jiangxi has been suffering from continuous rainfall, resulting in floods in seven districts and cities and 30 counties. Heavy rainfall has hit many parts of Jiangxi province, as one of the main tungsten concentrate producer in China. Productions of tungsten concentrate in Jiangxi have reduced by about 20pct. Jiangxi tungsten’s concentrate costs have raised and supply is expected to be tighter next two months.

Analysis of latest tungsten market from Chinatungsten Online

Opening this week, Chinese tungsten prices continued to remain weak adjustment as the market lacks clear guidance at present. Downstream buyers remain low buying appetite, but the supply of raw materials also is in shortage due to the environmental protection inspection, output cuts of smelting factories and inventories consumption of factories. 

Chinese rare earth prices remain weak adjustment in July. Firstly, the market comes into the off season and inquiry decreases; secondly, most magnetic material enterprises take a watchful stance, making a purchase according to actual needs to control their inventories in a reasonable level; finally, terminal purchasers are not active in buying. 

Molybdenum market quotation in China: ferro molybdenum price edges higher while prices of molybdenum oxide and molybdenum bar remain unchanged in July. Molybdenum concentrate market keeps firm as production is limited under environment protection inspection and smelting factories become active in inquiry.

China has tungsten alloy armor-piercing projectiles equipped 99A2 tank to confront M1A2 of Taiwan, at the same time, US arms companies will face sanctions of selling weapons to Taiwan.

The US Army seeking potential tungsten carbide plants for its new 120mm mortars and 6.8mm projectiles production according to the US military website "Defence Blog" reported on 10th July. The US Army is conducting a market investigation to find a manufacturer to produce large-caliber new 120mm mortars. It also announced a draft tender specification for new 6.8×43mm projectiles, attracting vendors participating in the bidding.

Rare earth is indispensable raw materials in various fields. Recently, the University of Michigan team has developed a technology that combines the ordinary elements into common elements compounds that can replace rare earth metals and has the opportunity to reduce the dependence of industries on rare earth elements.

By measuring minute changes in the ratio of tungsten isotopes, an international collaborative research team has solved a puzzle that has been debated for decades: Is there an interchange of material between the earth’s core and the mantle? The paper has been published in Geochemical Perspective Letters recently.

Since the start of second quarter, EU tungsten prices have declined, but slower than China tungsten prices as deteriorating US-Sino trade relations. Weak demand and oversupply put the burden on the global market.

Analysis of latest tungsten market from Chinatungsten Online

Prices for ammonium paratungstate (APT) and tungsten concentrate in China fell to two-year lows in the week ended on Friday July 12, 2019, with softer-than-expected demand ahead of the upcoming summer lull and ample supply weighing on both markets.