Analysis of latest tungsten market from Chinatungsten Online

The ammonium metatungstate (APT) and tungsten powder prices remained weak adjustment in the first trading day after the holiday of May Day because there are many uncertainties and risks in the market caused by epidemics, local conflicts and severe weather events. 

At the beginning of the week, China’s overall domestic rare earth market showed a stable and strong pattern, mainly reflected in the slight increase in market activity, the slight increase in the prices of praseodymium, neodymium, dysprosium and terbium products, and the industry's high expectations for the market outlook. This is mainly due to the difficulty in increasing the supply of rare earth raw materials and the increase in inquiries from downstream users.

Molybdenum market quotation in China: ferro molybdenum, ammonium molybdate and ammonium heptamolvbdate prices decline slightly at the beginning of the week with rare deals concluded in the market. 

Discovered in 1916 during the Japanese colonial era, the Sangdong tungsten mine in South Korea was once the backbone of the country's economy, accounting for 70 percent of the country's export earnings in the 1960s when it was used primarily for metal cutting tools. The mine was closed in 1994 due to cheaper supplies of the mineral from China, and nowadays, demand and prices for the key mineral will continue to rise, driven by the digital and green revolution and the growing desire of countries to diversify their sources of supply.

The Sangdong tungsten mine, 180 kilometers southeast of Seoul, could be the catalyst for South Korea to break China's dominance of key minerals and lay claim to future raw materials, according to Reuters.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was weak in early May with the impact of the decline in new guide prices for this month. 

China’s domestic rare earth market has improved slightly in the first trading day after the holiday of May Day, which is mainly reflected in the slightly higher sentiment of traders entering the market, the slight increase in the prices of mainstream products, and the confidence of most industry players in the stable operation of the market outlook. 

China molybdenum price was in a dilemma in the first trading week after the holiday of May Day as traders remained low enthusiasm under both weak demand and supply.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained stable in the first trading day after the holiday of May Day as the whole market kept quiet without news updated. 

American Resources Corporation announced its membership in the global Rare Earth Industry Association (REIA), an international nonprofit organization representing the global rare earth elements (REE) industry. The company says REIA provides a platform for stakeholders to network, conduct research, and develop strategies and supply chain standards.