MP Materials, the largest rare earth miner in the Western Hemisphere, today announced that in the third quarter of 2021, the company's revenues increased 143% year-over-year, primarily due to higher sales prices for rare earth oxides (REO) in concentrate and higher metric tons (MT) sold.

According to a report by IDTechEx, efforts are underway in Europe to reduce the use of rare earth magnets materials, especially heavy rare earths. The EU's strategy is aimed at protecting its EV industry from price volatility driven by other countries, as China currently dominates the supply of rare earths.

U.S. tungsten carbide scrap prices held firm in October, with rising intermediate costs partially offsetting supply tightness, but prices hovered near seven-year highs due to logistical constraints and steady demand.

Scientists at Sandia National Laboratory (SNL) have patented a new method for extracting rare earth metals from coal ash using water, carbon dioxide, high pressure, and citric acid from limes. If developed, this process would serve two purposes, says Guangping Xu, a senior technical staff member at the laboratory.

Mkango Resources Ltd, a Vancouver, Canada-based company has increased its interest in UK-based rare earth magnet recycler HyProMag, increasing its share from 25% to 41.6%. HyProMag was established by the founding directors of the Magnetic Materials Group at the School of Metallurgy and Materials, University of Birmingham, UK. The company is developing the commercial recovery of short-loop magnets via its patented Hydrogen Processing of Magnet Scrap (HPMS) technology.

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten power prices continue to remain stable on November 11, 2021 because domestic market is still in a stalemate and overseas markets are quiet as well. 

China’s domestic rare earth market showed a pattern of mixed fluctuations in the week ended on Friday, November 12, 2021. Under the mutual influence of many positive and negative factors, the mentality of traders was slightly divergent. The suppliers are more aware of selling and expecting further price increase, while the buyers are more willing to hold down prices. 

China molybdenum price has continued to decline as a whole in the week ended on Friday, November 12, 2021. In the context of a serious imbalance between supply and demand, most traders have a relatively pessimistic mentality, which is mainly reflected in the sharp decline in the price of many molybdenum products and the scarcity of new orders. 

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten powder prices in the Chinese market are in the downward trend in the first half of November because of the decline in cost and weak buying appetite of downstream end users. 

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices continue to remain weak on November with the impact of slight decline in new guide prices from listed companies for the first half of this month.