Speciality Metals International Ltd has signed transaction documents for the acquisition of 100% of Mt Carbine Quarries Pty Ltd, an entity that owns and operates the Mt Carbine quarry and mining leases ML4867 and ML4919, to produce tungsten.

There is potential for a supply deficit in 2019 and 2020 as tungsten output from existing mines looks set to decline; ore grades at some of the larger and older Russian and Chinese mines are falling as resources become depleted. Importantly, there are no plans in China to bring online new tungsten mines to replace these depleted deposits, according to Roskil. 

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten prices remain stable on the wh0le as the market shows more positive factors. Sellers now are reluctant to sell their products at low prices while downstream buyers still keep low trading activity. The imbalanced relationship between supply and demand is continuing in the tungsten market. 

Rare earth market quotation in China: the latest prices of terbium oxide, neodymium oxide, dysprosium oxide and praseodymium neodymium oxide continue to climb. On the one hand, market participants are optimistic about the late supply due to limited imports; on the other hand, after a long period of decline, praseodymium and neodymium prices start to rebound. Additionally, the new environmental checks also raised sellers’ strong rised mentality and boosted downstream inquiry, despite of continued thin trading. 

International molybdenum prices have been in the downward trend due to concerns around the US-China trade conflicts and a seasonal slowdown. Affected by that, domestic market is caught in heavy wait-and-see atmosphere. 

According to recent media reports: Zhao Dongchen, chief analyst of ICBC International's raw materials industry, said that after Trump imposed tariffs and imposed trade sanctions on Rusal, the price of aluminum on the London Metal Exchange rose to a seven-year high. He believes: "In addition to aluminum, the next metal that may rise is tungsten."

Analysis of latest tungsten market from Chinatungsten Online

The tungsten prices in China start to show signs of stabilization despite of continued low trading activity and different psychological prices of traders for products. On the whole, the short-term tungsten market is expected to be caught in wait-and-see atmosphere. 

China rare earth prices continue to rise sharply mainly because restricting production volumes of domestic rare earth resources raised insiders’ strong rised mentality under the unstable trade environment. After the state leaders surveyed and studied the rare earth enterprises in Jiangxi, the market speculation was strong.

Molybdenum market quotation in China: the latest prices of molybdenum oxide, ammonium molybdate and ammonium heptamolvbdate are unchanged from the previous trading day. The tightening availability of sport goods in the raw material markets and weak consumption of downstream factories form a certain pressure of production on smelting factories. Plus with unstable trade environment impacts international market confidence, the tungsten market is expected to maintain stability. 

Analysis of latest tungsten market from Chinatungsten Online

Opening this week, tungsten prices in China maintain stability as most insiders are waiting for new round of guide price from large tungsten companies. Affected by the Sino-US economic and trade frictions, market participants are in the cautious sentiment, plus with declined orders from terminal side and the worry for Fanya’s stocks, tungsten concentrate price is under pressure. But the environmental protection inspections still offer support for the weakened market.