Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices remained weak adjustment on April 4, 2023 with the decline in new guide prices for the first half of this month, which is in line with the current market despite of weakening market confidence. 

Rare earth market quotation in China: terbium oxide price increases slightly while gadolinium oxide and praseodymium neodymium oxide prices edge lower on April 6, 2023. 

China’s domestic molybdenum market showed a pattern of stabilization and recovery on April 6, 2023. Under the background of the gradual strengthening of production cost support and the increasing enthusiasm of downstream users for inquiries and purchases, many suppliers tentatively raised their quotations.

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of April 2023, China tungsten price was temporarily stabilized because most market participants are waiting and seeing the new round of guide prices from institutions and large enterprises.

According to the U.S. Geological Survey (USGS), Vietnam is estimated to have the world's second largest mineable rare earth resource after China, with reserves of 22 million tons, compared to China's 44 million tons. North Korea holds the world's largest deposits, but sanctions have prevented the resource from being exploited in the global rare earths supply chain.

Norway has discovered a "substantial" of metals and minerals ranging from copper to rare earths on the seabed of its extended shelf. These resources are of high interest for their role in the transition to a green economy. The Nordic country, a major oil and gas exporter, is considering whether to open its offshore areas to deep-sea mining, a process that requires parliamentary approval and raises environmental concerns.

Researchers at Pacific Northwest National Laboratory (PNNL) and Virginia Polytechnic Institute and State University are using tungsten (W) materials research to achieve the goal of generating energy through nuclear fusion. In the paper, published in the journal Scientific Reports, the researchers propose improving tungsten heavy alloys by mimicking the structure of sea shells to make nuclear fusion energy.

Analysis of latest tungsten market from Chinatungsten Online

In the first quarter of 2023, China tungsten price generally showed a trend of rising first and then falling, mainly due to the negative change in market fundamentals and the continued impact of uncertainties such as international economic pressure, geopolitical issues and extreme weather events. 

Rare earth market quotation in China: holmium oxide, dysprosium oxide and terbium oxide prices edge higher on April 3, 2023. 

At the beginning of the week, China’s domestic molybdenum price generally maintained a sideways arrangement.