This week, China rare earth market showed a downward trend. Affected by the imbalance between supply and demand at the beginning of the week, the prices of rare earth raw materials such as praseodymium, neodymium, dysprosium, terbium, and gadolinium dropped sharply. However, near the weekend, supported by production costs, the prices of praseodymium and neodymium products rebounded.

Analysis of latest tungsten market from Chinatungsten Online

The ammonium paratungstate (APT) and tungsten powder prices are unchanged from the previous trading day. 

This week, China’s domestic molybdenum price was weak but still maintained a high level. With the support ability of favorable factors gradually weakening, the upward adjustment of suppliers’ quotations was obviously hindered, and the prices of some products dropped slightly. 

The mining company LKAB has made a significant discovery of rare earth elements in Northern Sweden. The deposit has the potential to become Europe's most important critical raw material mine. At a press conference at the Kiruna mine, LKAB CEO Jan Moström announced the groundbreaking news that the Swedish mining giant has discovered the largest rare-earth metal deposit in Europe in Kiruna, and LKAB is hoping to develop the deposit.