At the beginning of the week, China’s domestic rare earth market was still tepid. Affected by the weak supply and demand, traders entered the market in a general mood, so prices of rare earth raw materials fluctuated in a narrow range and the transaction was lower than expected.

At the beginning of the week, China molybdenum market continued the trend of stabilization and recovery on June 13, 2022. Affected by the willingness of steel companies to enter the factory to bid for ferromolybdenum and the increase in bidding prices, the price of ferro molybdenum rose, and it is also led to the rise in the prices of many molybdenum chemical products such as molybdenum acid. 

The rare earths (REE) target is ionic adsorption clay deposits located in South Australia (SA), and these clays contain four key elements used in magnets for electric vehicles and wind turbines: neodymium, praseodymium, dysprosium, and terbium.

American Resources Corporation's (AREC) American Rare Earth division has wrapped up the commissioning of its Indiana rare earths separation and purification facility, as well as its battery materials facility.

Alderan Resources' partner in the Frisco copper project in Utah, Kennecott Exploration (KEX), has drilled for copper and molybdenum on the Copper Gulch prospect. A subsidiary of Rio Tinto (ASX: RIO), KEX spent $30 million and has the right to explore over a 10-year period, resulting in a 70% stake in Frisco.

Tungsten wire, made of refractory metal tungsten (W), has high melting point, high resistivity, good strength and low vapor pressure, which is widely used in the field of lighting. However, with the continuous reduction of the traditional lighting application market in recent years, head tungsten enterprises in China are more actively exploring other application fields, such as photovoltaics.

As one of the core consumables in the silicon wafer cutting process, the cutting effect of diamond wire is mainly affected by factors such as product thickness, busbar performance and cutting method. Generally speaking, the cutting effect is better when the diamond wire is thinner. 

Vantage Drilling International has reached an agreement with TotalEnergies to supply its Tungsten Explorer to the latter for at least 225 days for the West Africa work. Vantage says the firm part of the contract is worth about $79 million, with the possibility of three more extensions.

According to the director of the Democratic Republic of Congo's mining registry, the country could see about 10 new metal mines in four years that include copper, tin, tantalum, and tungsten, with its key to powering the green energy transition.

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten carbide powder prices remain weak adjustment on June 9, 2022 as the market is still in a stalemate. In addition, the decline in new offers from listed tungsten companies also weakened market confidence.