According to the statistics of China Tungsten Industry Association, China's tungsten resources account for 70% of the world's total. In 2017, the production took up 84% of the world's total. The capacity of the listed company's Xiamen Tungsten located in Xiamen, Fujian Province, takes up about 20% of the whole world’s capacity. 

Recently, the vice-minister of Ministry of Industry and Information Technology of the People’s Republic of China and head of National Manufacturing Leading Group Office, Xin Guobin declares that the development of manufacturing industry has achieved great success since the reform and opening up of China more than 40 years ago in the 2018 National Manufacturing Expert Forum. 

Analysis of latest tungsten market from ChinaTungsten Online

Margin in mine enterprises was squeezed, although limited production under Chinese environmental checks. Tungsten concentrate sellers were not willing to sell at low prices and buyers entered the market slowly. Thin trading volumes pressed down market prices. Tungsten concentrate prices declined to $15,384.6/t.

China rare earth price is unchanged from the previous trading day because the market is caught in heavy wait-and-see atmosphere at the end of this month. The continuous weak demand has weakened market confidence, although environmental checks tighten the supply of raw materials. At present, uncertain policy for purchasing and storage limits price rise. 

China molybdenum prices continue the upward trend on Wednesday August 29 when the supply of molybdenum raw materials is tight under the environmental inspections. Molybdenum concentrate traders have more confidence and inquiry becomes more active than before.

With the development of new-energy car industry, cobalt and lithium have become the popular rare metal resources in the current market. According to Japanese media’s reports, a series of vehicle industry policy launched by China has become the turning point of intensifying the global resources scramble. The demand for rare metal will increase rapidly in the future.  

Recently, the researchers in the Argonne National Laboratory have accidentally discovered that the reaction between molybdenum disulfide and nano-diamonds can produce onion-like dry lubricant which can last long.

Recently, a team of international scientists reported a new type of superhard material that can be used in drilling, machine manufacturing and other fields. It is a kind of compound based on tungsten boride. After being Research has confirmed that the newly-developed tungsten boride is superior to the WC-Co hard alloy composite materials and synthetic diamond materials which are currently widely used.

Recently, Professor Li Guowu from Crystal Structure Laboratory in China University of Geosciences has discovered a new mineral with tungsten bronze type structure--- wumuite. The new discovery was officially approved by IMA-CNMNC (Approval No. IMA2017-067a). This is the first natural mineral with tungsten bronze type structure found in the world.

Analysis of latest tungsten market from ChinaTungsten Online

China ammonium paratungstate (APT) and ferro-tungsten prices continued their downward trend earlier in this week amid quiet trading volumes in Chinese market and lackluster demand from the overseas market.