Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China’s domestic tungsten price continued to be firm despite of environmental protection, seasonal natural disasters and other pressures. In the short term, participants will wait for new guide prices from companies and associations, and pay attention to the impact of the Delta epidemic on the global economic and trade environment.

The task force group report focused on domestic manufacturing and Chinese influence in the U.S. market. The group stated that the "large amount" of rare earth materials was "exclusively from the People's Republic of China"

Greenland Minerals Ltd. is continuing to negotiate the licensing procedures for its Kvanefjeld Rare Earth Project and is currently awaiting the second phase of consultation on September 13. Based on 108 million tons of ore reserves, the initial mine life of the Kvanefjeld project is 37 years.

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten market continued to remain strong in the week ended on Friday, July 30, 2021 with different attitudes towards the outlook. Raw material manufacturers still have strong rised mentality while intermediaries and downstream users are cautious to avoid risks given that the price is high at present.

Rare earth market quotation in China: terbium oxide, neodymium oxide and dysprosium oxide prices continue to be in the upward trend on Aug. 2, 2021. Under the influence of low inventory of some products, steady downstream demand and good policies, traders are more optimistic, and low-priced goods on the market are scarce.

Molybdenum market quotation in China: molybdenum powder, ferro molybdenum and molybdenum concentrate prices remain stable on Aug. 2, 2021. In the case of a slightly tight supply of raw materials, the holders keep firm offers and low-price resources are hard to find. 

At the end of the June quarter, Pan Asia made significant progress in Thailand's Reung Kiet lithium (Li) and Khao Soon tungsten (W) projects.

Recently, Commerce Resources Corp. announced that it has completed the first drill hole planned for the 2021 site at the Ashram rare earth and fluorite deposit in northern Quebec, and it is set to commence the summer drill program. The project is managed by Dahrouge Geological Consulting Ltd. of Edmonton, and Logan Drilling Ltd. of Stewiacke is responsible for the drilling operations.

South Korean PEF invests in Australia‘s Mining and Metals Corporation to help the country’s industry diversify the supply of key metals. A consortium of three Korean private equity companies (PEFs) signed a framework agreement with Australian Strategic Materials Ltd. (ASM) to hold the latter’s rare earth and key metals in Dubbo 20% stake in the project, New South Wales.

King Island Scheelite has received a US$70,000 exploration and drilling grant from the Tasmanian government to fund greenfield exploration at the license of the Dolphin Tungsten Project on King Island in the state.