China has set its first rare earth mining quota for 2022 at 100,800 tons, an increase of about 20% from last year's level, and a smelter separation quota of 97,200 tons, also up from 81,000 tons in 2021.

China molybdenum market is relatively calm on February 8, 2022 after the holiday of Chinese Lunar New Year because many upstream and downstream enterprises in the industrial chain have not yet fully resumed normal operation.

China rare earth price has not changed significantly for the time being after the holiday of Chinese Lunar New Year due to the general influence of traders' initiative in entering the market. The current prices of praseodymium neodymium oxide and praseodymium neodymium metal are 960,000 yuan/ton and 1,170,000 yuan/ton respectively, and the prices of terbium oxide and dysprosium oxide are about 13,800 yuan/kg and 3,050,000 yuan/ton respectively.

Tungsten is an irreplaceable and non-renewable strategic metal resource in the field of national economy and modern national defense. It is the metal element with the highest melting point. Because of its excellent characteristics such as high melting point, high specific gravity, high hardness, strength and toughness and corrosion resistance, it is widely used in aerospace, shipbuilding industry, automobile manufacturing, electrical engineering, electronic information, chemical and petroleum, mining, iron and steel metallurgy, CNC machine tools, national defense and military and other important fields.