The gold market got hits while tungsten became the exclusive survival

Market performance: non-ferrous metal plates fell 0.7% last week, performing slightly better than the broader market (Shanghai Composite Index fell 0.7%, Shenzhen Component Index fell 1.44% and CSI 300 Index fell 0.86%). Among the sub-industry, gold market performed better with 0.9% rise while rare metal was the worst performing sector with 1.7% fall). As for the individual stocks, Jiaozuo Wanfang and Yunan Germanium led gains while Orientzr and GEM suffered heavy fall).

Rare metal: market: sharp increase in APT market and fall in praseodymium –neodymium market. The increase of 3.4% in APT price was due to the influence of market guide price, the rising of tungsten concentrate price and the rumor of tungsten purchase. However, considering there are not obvious supports by fundamentals, the upward trend is difficult to sustain. Rare earth market was still weak with Pr-Nd alloy falling 3% and Pr-Nd oxide 4% respectively.

Precious metal market: gold has been headed for a bear market. Factors supporting gold to sustain its high price are conquered one another. Gold market has suffered a heavy fall of 5.2%.

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