Analysis of latest tungsten market from Chinatungsten Online

The ammonium metatungstate (APT) and tungsten powder prices keep weak at the beginning of the week as the decline in new guide prices for the second half of this month released by state-owned tungsten companies weaken market confidence. 

Montero Mining and Exploration Ltd. has commenced a detailed fieldwork program following the successful completion of reconnaissance exploration on its Avispa Copper-Molybdenum Project exploration concession in Chile, located in the Atacama Desert in northern Chile, the Avispa Project covers an area of 170 square kilometers. It is located within the north to south Paleocene-Eocene porphyry copper belt, which hosts a large copper-molybdenum deposit.

Lynas Rare Earths has initiated the construction of its Kalgoorlie processing plant in Western Australia, awarding a formative contract to a subsidiary of WestStar Industries for $12 million.

According to the Global Times, rare earths prices in China have recently broken a 10-year high, driven by the development of new industries, tight supply, and state-level industry consolidation.

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price continued to remain weak adjustment in the week ended on Friday, November 19, 2021 due in part to imbalanced relationship between supply and demand. Moreover, the instability of the global epidemic, transportation, management measures, and liquidity has made it difficult to clarify the market outlook.

At the beginning of the week, China’s overall domestic rare earth market has not changed significantly. Affected by factors such as the difficult increase in the supply of raw materials, the good demand from downstream users, the continuous introduction of favorable policies, and the imminent restoration of Myanmar border ports, the performance of the light and heavy rare earth markets is different.

At the beginning of the week, China’s overall domestic molybdenum market still underperformed. Although the recent sharp decline in raw material prices has supported the confidence of downstream users to purchase on dips to a certain extent, the overall demand is still not as expected, so it will be relatively difficult for molybdenum price to rise in the short term.

Analysis of latest tungsten market from Chinatungsten Online

China’s ferro tungsten and tungsten powder prices continue to decline due to weak support from the cost and great pressure from the demand side. Most participants are waiting for new guide prices from state-owned tungsten companies. 

China rare earth price showed a slight correction trend at a high level in the week ended on Friday November 19, 2021. Under the intertwining of long and short factors, the price game between buyers and sellers is obviously fierce, which hinders high transactions and makes it difficult to find low-priced supplies. Currently, the price of praseodymium and neodymium metal is about 970,000 yuan/ton, and the price of dysprosium-iron alloy is about 2,950,000 yuan/ton. 

China molybdenum price was in the downward trend in the week ended on Friday November 19, 2021. Affected by the lack of support from positive factors, the buyer’s market has a greater advantage, mainly reflected in the sharp decline in molybdenum prices.