IFG Capital Partners and the State Committee of the Republic of Uzbekistan on Geology and Mineral Resources have signed an agreement to undertake a feasibility study on the development of the Yakhton tungsten deposit in Uzbekistan.

Analysis of latest tungsten market from ChinaTungsten Online

The continuous weak demand and lowered guide prices from large tungsten enterprises have pressed down Chinese tungsten prices so far this week, with the prospect of further falls if market trading is thin. 

The latest prices of praseodymium neodymium oxide and praseodymium neodymium metal decline slightly while neodymium oxide price remains unchanged. Under the environmental protection policy, market participants are optimistic about market outlook, but weak demand is continuing in the off season. Thin trading volumes weaken market confidence at present. 

The latest prices of molybdenum concentrate, sodium molybdate, ammonium molybdate and molybdenum oxide edge higher from last trading day. On the one hand, affected by the environment protection policy limiting mines’ capacity, sellers have strong rised mentality; on the other hand, insiders are optimistic about the outlook and reluctant to sell.

Reported that the previous satellite images can only confirm the existence of China's total 3 094 type ballistic missile nuclear submarines. But there are signs that the production of type 094 nuclear submarines has come to an end, China will then produce the next generation of ballistic missile nuclear submarines, the next generation of attack type nuclear submarines may be produced at the same time. Tungsten materials will also play a very important role in the production of new nuclear submarines. Here we list the main applications of tungsten in nuclear submarines.

Analysis of latest tungsten market from ChinaTungsten Online

Opening this week, Chinese tungsten price continues its weak adjustment on quiet trading activity and insiders’ pessimistic attitude toward market outlook. The guide prices from large tungsten enterprises were released last Friday, which decline significantly compared with last time. The fall also weakens market confidence and drugs down transaction prices.

The latest price of europium oxide, praseodymium oxide and praseodymium neodymium oxide is unchanged from the previous trading day. State Reserves Bureau held the conference concerned with rare earth reserves last week, raising sellers’ wait-and-see mentality. 

Chinese molybdenum prices are stable with good momentum as sellers in raw materials have strong rised mentality and new round of steel biddings perform well. 

Analysis of latest tungsten market from ChinaTungsten Online

APT guide prices for late July were released by large tungsten enterprises last week, which were adjusted according to Chinese tungsten market. An enterprise in Fujian, China quoted at $300.7 per tonne and $295.5 per tonne in Jiangxi. Besides, sales of goods were thin and transaction prices lowered than before. Taken together, tungsten prices in China were in a downward trend last week.

Chinese rare earth price continues to be in a stalemate. On the one hand, weak demand and relatively adequate stocks cool trading activity and buyers try to force prices down; on the other hand, purchasing and storage of rare earth was not stated clearly at the conference and thus market participants becomes more cautious on trading. Taken together, short-term rare earth price will stabilize.